I would like to keep the home we live in now as a rental.The question is, if we want to be able to purchase this new primary residence we need to use the Missouri home by either 1) selling it as quickly as possible and hoping that the house we want doesn't sell, 2) put the home up as collateral for a loan for the new primary residence (I don't know if this is even possible) so we can get financing going faster, or 3) hoping some of you have other creative options that would allow us to make this move pretty quickly.I know the red flag that's popping up for many of you is the fact that I want to do this quickly. 

If you’re looking to place a tenant after you purchase a place, your screening should pick up most red flags.

Obviously lots of research involving zoning, codes, and the rules in the area, but it can be done, and these types of properties usually cash flow well since they aren’t advertised as multiple units.

Owner's Title insurance binder (is it in a flood zone)15.

Market is red hot 

Before you do any of these or put effort into them you should consider zoning law and code.

-If a property has been sitting on the MLS for over 30-40 days, is this a no-go/red flag?

There are deals out there you just must go outside your comfort zone to capitalize on them. 

I love NJ and everything it has to offer, but I would feel unfulfilled if I never lived outside of the Tri-State area.2) Stepping outside my comfort zone * This is similar to the above bullet point.

@Chris SeveneyLots of other red flagsWebsite looks like it is “out of a box”Jim Griffin claims to be faculty member of UT Austin School of Business.