(We actually fired our PM last month and are transitioning to a different company next week).We are open to all options... a few we came up with: 1) The subs don't know the new PM; opportunity to start fresh, ask for formal application process, formally terminate the prior lease and start a lease with them, at a higher rate to offset our risk.2) Cash for keys - I've read it can be more effective that going through eviction?

The hold period would likely be 5 years before we would want to transition to a single family home.That being said, I have 0 knowledge or experience in Minnesota duplex ownership.

I think that becoming an investor is something that you transition to over time, but you need to first have a steady income so you have some money to invest in the first place.

I would be grateful for any advice on the transition.

@Nick MessI bought a truck when I transitioned from fix and flip to rentals because I wanted a truck and didn’t really understand all the differences between long term rentals and fix flip because I planned to grow fast.

My current plan is to rehab and flip in Colorado (where I live and work) for the next 3 to 5 years in order to increase capital as quickly as possible, and then to transition into buy and hold rentals (preferably apartments, perhaps through the BRRRR strategy), either in Colorado or in a different, out-of-state market better suited to the rental business.

As for the appraisal, this is just a weird area that is transitioning from old (60's) to new and the automated appraisal is picking up houses that are listed in as-is, handyman, etc - ie, preflips, along with houses that are well kept, along with houses that have recently been remodeled, and all it can do is "average" the sales price of a 350 and a 650 house whereas a human can differentiate what type of house we have here, so it will definitely increase the HELOC by up to 50k.

We know it'll be a slow process, and one or both of us might need to teach for a few more years after the move as we transition, but it's our hope and dream to spend more time with our (I can't emphasize this enough - feisty, feisty, zesty-level feisty) little redheads. 

Investment Info:

other investment.

Purchase price: $165,000

Cash invested: $15,000

Bought fixed lived in now moving to tucker and renting out for income.
Value went from 180000 when bought to 250000...

Not really interested in warzone areas, unless it is in a transitional area, path of progress, etc.