Be sure to include in your math the loss of the section 121 exclusion on your $50 gain in value.BP members often ask if their former primary residence makes a good rental and in most cases it does not (unless pre-planned as such).

Hi Adam,I've always been a real estate guy but exposed my personal portfolio quite heavily to a regional bank ETF.I guess time will tell if I'll be a "Hero" or "Zero" lolCome on you Fed and reduce those rates 😁Real estate is and always will be my bread and butter tho.You can't beat the safety of a "brick and mortar" investment per se.My best advice would be if you are going to go down the path of investing in out of state rentals to have a growth mindset.Buying 1 or 2 isn't worth the risk or hassle and you might as well invest in your own back yard.10+ years in the industry and my most unsatisfied investors are the one's that build smaller portfolio's.If a property goes vacant and takes a few months to get it back performing, with a small portfolio that could impact cashflow of 30-50% for that year.Our investors that own 7,8 or 10+ properties, don't even feel it if 1 or 2 go vacant.Just my opinion and wishing you much success

Now i have a question regarding when i can use my college degree and job as "proof of two years work" rule: when can i show consistent paystubs where i can be considered for a mortgage loan? 

Unfortunately, you cannot ignore depreciation rules for 2023 even though you sold the property.

In this time, mortgage rates are up 103% and the average home ($417k) would require roughy 50% of a household’s total income.

Any estimates are like +-50%.

@Mark Bills that’s really strange, the 50 bps refinance fee from Fannie Freddie was removed just recently.

Talk to the tenants and ask if there have been any problems with the gas as the usage has increased compared to last year.Without separate meters, have each unit pay 50% of the bill assuming the units are similar size. 

If you've got more money than you do time, maybe buying turnkey rentals and simply following the 1% rule can work well for you.Final point: I think it's important to be looking longer term at investments in the current market!

My cost basis would be 40 or 50% lower due to the fact I am performing most of the labor "free of charge".