I know its probably an emotional house for you ( mine is also) but try and run the numbers on what your monthly cash flow would be if you sold the property and used that money to buy 1-3 investment properties. idk your market but in mine that extra 150k could easily buy 4 (maybe 5) properties that would cash flow a minimum of 250 but most likely 350-400/month.

After the 2 year "has to stay primary residence clause" (which is met this coming Feb) this property would be my first rental in the area, and utilizing the cash out refi, would give me the money to move into my next property without any extra out of pocket money.I'll be sure to come back and update this for any newcomers that want to hear from beginners or are still in the "learning before you leap" mindset.I'll list the purchase info and criteria as well as the rental potential in the area and the cash out refi results below.Initial Purchase:3 bed / 1 bath / 1000sqft / 0.46acre / built in 1980 - Appraised at $140,000 in Johnson City, TN - Feb. 2020Credit Score at the time: 648 (This was a focus of mine as I had been repairing previously damaging years in my early 20's)Purchase Price: $132,000 using an FHA 30-year loan at 4.625% / Closing costs from me $4,666.63 / After all fees and closing starting mortgage amount was $129,609.00 / Monthly Principle, Interest, Escrow (Insurance, Property Tax, Mortgage Insurance) payment: $869.12Rental Potential:Johnson City TN is home to East Tennessee State University and close to Bristol TN for all you NASCAR and drag racing fans.

The boxes it checked for me were, cost for a small portfolio like mine, bank account sync, tax reports for CPA, ledger for income and expenses, tenant portal, ACH payments, cloud based, and ease of use. 

Hi all,I've been cruising through the forums and I really appreciate all the great advice here.A long-time friend of mine, who owns several businesses, is expanding his real estate portfolio.

A friend of mine introduced me to real estate + it was a short sale.

Mine are set up through my Attorney since you have to file every few years or lose your entity. 

A good friend of mine has been helping me part time and seems eager for what I'm trying to accomplish.

About five years ago I wrote a BP post about finding a tax strategist and I got hundreds of requests to know mine.

I'll share mine:- Target CoC of 25%+, 35%+ if a partner deal.

This property was very straight forward, no issues in closing, no title problems, how I wish every deal of mine would go haha.