Sometimes, there is also a tenant already in place which means you can start generating rental income from day one.

When you sell a property that has been depreciated, the IRS requires you to "recapture" the depreciation deductions, taxing that portion of the gain at ordinary income tax rates.

If this were a Real Estate secured note,  a note broker or flipper might offer you up to about 65% of the remaining balance whereas an investor who is building passive income streams week offer up to about 90%. 

@Justin Jefferson first, some cold realty - you're about as likely to play in the NFL as you are to retire via real estate in 4 years.Are they both possible?

Currently, my strategy is to rent to section 8 tenants for the guaranteed income.

If you still want to rent out your other bedroom you can have a tenant in the opposite side AND a roommate which would give you two income streams.

If they pass all of the checks and have the proper income then they have a shot at moving in.

I specialize in STR & Co-living concepts, which I recommend for the highest rental income potential! 

Despite having generous incomes, some of them are utterly irresponsible with the property and leave a disaster behind when they move. 

Hello Satish- the greater Banner Elk area does have a lot going for it and the right property should provide you excellent income and a potential nice getaway spot.