Here’s the plan I’ve come up with, and I’d love to hear your thoughts on its feasibility, potential risks, and any improvements you might suggest.The Plan1.Pay Off Mortgage: I currently have $170K left on my mortgage, and my goal is to aggressively pay it off in the next 1.5 years.2.Establish Emergency Fund: Before making any big moves, I’ll set aside 6-12 months’ worth of expenses as an emergency fund.3.Extract Equity: Once the mortgage is paid off, I’ll pull out the equity from the property.4.First Flip: Using the extracted equity, I’ll purchase another house, fix it up, and sell it for a profit.5.Reinvest Flip Profits: Instead of buying another property immediately, I’ll use the profits from the flip to renovate the original property, aiming to increase its rental income and appraisal value.6.Reappraise and Extract Equity Again: After renovating, I’ll get the original property reappraised and extract additional equity based on its increased value.7.Purchase Rental Properties: With the additional equity, I’ll start purchasing rental properties that offer positive cash flow and have growth potential.8.Leverage Equity Strategically: I’ll use equity from the original property and any new properties while maintaining a healthy loan-to-value ratio (LTV), ideally around 70-75%.9.Build Rental Portfolio: I’ll focus on acquiring a mix of property types (e.g., single-family homes, multi-family units) to diversify my investments.10.Focus on Cash Flow: I’ll prioritize properties that generate consistent positive cash flow, ensuring that rental income covers all expenses, including mortgage payments, maintenance, and management fees.11.Long-Term Hold: I’ll hold properties long-term to benefit from appreciation and tax advantages.

If I were you I would check the Days on market, and check the Trend for pricing Month over Month for sales and listings in the area. 

She's asking me to manage the house for her in exchange for a $200 monthly fee (for example, I could list the house for $2700 and give her $2500).This would include finding tenants in the same way I do for my own tenants, and managing the property after it is rented as it is only 4 min away from my home.

This started a few months ago.

The tenant is requesting the return of their last month's payment and security deposit (equal to one month's rent).

I get my increase sooner and lock them in for a fresh 12 month period. 

This is lengthy, but I'm trying to provide as much detail as possible for anyone kind enough to provide feedback.I bought a condo 3 years ago but now need to move for work.Would appreciate feedback/thoughts on next steps on Sell vs Rental approach.Looking at the very high monthly exp/rev ratio, it seems I should sell, but want to make sure I'm exploring all options.

I've done it both on Air BnB and by going direct, with a 30 day min stay, averaging out to be about 3-6 months each guest.

Hi, I am actively looking and putting offers for my first rental property, I just saw a townhome that I like from the 70's that needs some rehab, and a few blocks from it there is new development offering same type of units (a bit bigger) 10% more expensive with delivery lead times of 6 months.

It was roughly a month ago.