For example you out grew it, it was a two bedroom, but you got married and had two kids (a boy and girl) and now you need a three bedroom (a little hard to pull off in one year unless you have twins =) ); the other option is that the first property you financed as an FHA is a very far commute to your work, and now you found a closer property that you need to relocate ( the properties cannot be in the same city if you're using this reason and I am not sure how far apart they could be).  

I still remember the kid I met in San Fran who had a 40 year interest only mortgage and was proud of his "investment". 

I will be moving to KC next month and am new to REI, so I am trying to explore different properties.

Are you f'ing kidding me?  

Why am I getting into the field, I hear you ask.Well, my parents are hitting retirement age and are having to work as hard as ever to sustain their lifestyles.Three kids on my mother's side and one on my father's means that I'm not holding out for a massive inheritence (though my mother has hinted that her life insurance pays out more than I would have expected...) and so, as with all things, I am learning to take control.I'm slowly coming full circle, have an interview for a job back in my old hometown and am remembering my dream as a 12 year old was to own hotels, coffee shops and houses.

Also, I'm a hands-off investor, so I find property managers and strictly stick to managing the managers.My goal is to hand off my properties to my kids at some point, preferably through seller financing so that they can get a good deal, I can quit running "the business" to have truly passive income streams, and they can have "passive" income to free up their own lifestyle options.That makes it a win-win in my book.

Just kidding. :-)My guy is the more social one... so I'm kind of gritting my teeth trying to introduce myself on a social platform!

When you are married with kids your priorities change and you make compromises no matter how cool and edgy you thought you were at 25.

See Uniform Capitalization Rules earlier.The costs you can choose to deduct or to capitalize include the following.Carrying charges, such as interest and taxes, that you pay to own property, except carrying charges that must be capitalized under the uniform capitalization rules;Research and experimentation costs;Intangible drilling and development costs for oil, gas, and geothermal wells;Exploration costs for new mineral deposits;Mining development costs for a new mineral deposit;Costs of establishing, maintaining, or increasing the circulation of a newspaper or other periodical; andCosts of removing architectural and transportation barriers to people with disabilities and the elderly.

My son (a budding RE investor who encouraged me to join this site) has been pushing for us to explore this option.