It is also worth noting that property management is often closer to 30% of gross rent for a short-term rental due to the much more intensive hands-on management compared to a typical 10% for long-term and as such, I agree with recommendations above that medium term rentals may provide the best of both worlds if you are able to tailor proximity to a local need, e.g. hospitals and travel nurses.Again, happy to relay my personal experiences in the area if you're interested.Best of luck,Patrick

Hey @Mario Morales I assume you're planning to purchase the new property under your personal name rather than through an LLC?

A person doesn't have to like these new realities but realities they are none the less.

I think this is a calculation a lot of homeowners are making right now--especially if they have a low interest mortgage, equity, and their house will cashflow as a rental.The choice is a personal one of course, but I think your future self will thank you if you pull out some equity from your existing home with a HELOC for the downpayment on the next house and a cushion renting your current home, use a property manager as you have other things to do, and buy the next house and do the same thing again.

I inherited a partnership in a 22 unit commercial building with 8 restaurants, a grocery store, a couple of personal care services, and various other businesses.

my google search of asset definition had as its first entry: "a useful or valuable thing, person, or quality."

For comparison, a Navy Federal FCU personal loan will be in the 15s%

(Either with the roofing company, a heloc, or a personal loan.)Either way you will probably be way ahead on interest saved unless you have a sub 6% interest rate.

I also have a personal relationship with my contractor so got a massive price break. 

I try not to let it get personal...there are some members that have been 'inappropriate' in the past, but I will still give them a vote if their post actually deserves it