Years ago I had a friend that had been laid off and was struggling to pay the bills while looking for work.

The potential risks like unpaid bills and damaged property aren't worth the hassle.

@Christopher Smith - I'm expecting a capital gains tax bill of ~$100k.

Water/sewer/trash bills are killer in the City and they are ruthless about holding housing providers responsible while letting tenants repeatedly off the hook. 

Can you go ahead and change that (think address of record for LLCs or bills for other properties).Make sure any HOA and the local government allows for your home as an MTR.1 last point to add to Jamie's first point: if you can, take a video tour of the home and what you're leaving behind.

Quote from @Bill Hampton: Welcome to Bigger Pockets.  

Income Late fee Gross rent Expenses Advertising Cleaning Gardening/lawn mowing Insurance Interest on loan(s) property tax Legal expenses Pest control Property agent fees/commission Repairs and maintenance Water charges Electric Bill Total expenses Net rental income or (loss)

You could be stuck with a major paving bill to re-lease your property if they leave it full of potholes, etc.

That's what I did.I'm not saying don't go for condos, but really do your due diligence on the HOA to make sure they are in decent shape so you don't get hit with bills later on. 

You turned what couldve been a simple single family LTR into a big management project.Bob doesnt like when Bill opens the windows becasue he wants to use the AC.