The property has been in the same family for 30+ years and has been well maintained. 

I understand wanting to save money on the monthly fees, but when it comes to maintaining an investment that can very easily be devalued by deferred or poor maintenance it's worth it. 

The buyer maintains the property and pays the mortgage.

Flippers will have to price in these added expenses to maintain their margins, leading to lower offers on distressed properties.

Property management involves overseeing and maintaining rental properties on behalf of the property owner.

Keeping an eye on the market and maintaining flexibility will help you pivot as needed.Good luck, and congrats again, seems like you're setting yourself up for success!

@Dave GreenHere are the three options for generating passive income and scaling up a property portfolio: selling rentals and buying a multifamily property, paying off your primary residence, or holding rentals and maintaining cash flow.

So I have a rental property that I am paying a management company to maintain and rent out. 

To prepare, focus on saving for a strong down payment and maintaining a solid credit profile, as both are critical for competitive financing.If possible, look into FHA or conventional loan options for owner-occupied properties, which may offer favorable terms, especially for first-time buyers.

If you choose this route, make sure to have clear, written agreements in place and maintain a professional landlord-tenant relationship.