This income after expenses is in addition to appreciation.The rental income fully funded my deferred compensation 457 plan so was tax deferred (not to speak of depreciation write-off) and built up a nice little sheltered nest egg.The income from rentals also paid for my 3 week vacations in Mexico every year for 10 years while working.The equity is great to borrow against.

There are several areas where short-term vacation rentals work. 

I would probably take a different course of action, inquiring with counsel on vacating the original agreement to maintain the installment contract.  

Do you like restaurants, malls, vacations, movie theaters?

I used it when picking out my hotel in Charlotte  and South Dakota for vacations.

Not sure if we would treat it as a "rental" or a "vacation home" or "business", but we wouldn't be there more than 14 days a year, that's for sure!

After a long (stressful) search we found that the neighbor's house (while on vacation) burst multiple pipes.

Augustine, and am building vacation rentals in Cinnamon Beach in Palm Coast.

Vacation rentals seems more feasible, but the purchase price is pretty prohibitive in most cases up in PC.

In my opinion, all debt is not created equal, and Ramsey's teachings seem to gloss over the importance of understanding assets and liabilities.I think Ramsey is trying to help those addicted to credit card spending, fancy vacations, posh car purchases, etc.