The tenants love her, she stays on top of maintenance, has implemented upgrades to improve the property and drive rent increases (much to my dismay, LOL), organizes fun themed events with catered food for tenants, manages evictions and oversees the building's Section 8 program.

My husband and I are dipping our toes into rental real estate by renting out the family home that we've been in for over 22 years.We own the home outright. 

My passion lies in real estate development, particularly in the realms of short-term rentals (STR) and long-term rentals (LTR).

What are the things you should consider in buying your first home rental property?

I feel like I have WAY too much equity sitting and doing nothing for me across my 5 LTR properties:* Rental A: 235k (Market: 440k)* Rental B: 140k (Market: 210k)* Rental C: 130k (Market: 200k)* Rental D: 75k (Market: 150k)* Rental E: 100k (Market: 200k)But with the current HELOC/Refinance rates - it just doesn't seem to make sense?

I’m currently observing an interesting trend in the Central Florida market where a noticeable number of short-term rentals are being converted into long-term rentals.

Let's say you want to stay conservative and only take 50% LTV, or $500,000.00, so that you don't have to sell anything in case of a market correction and there's a margin call.Step 2:  Purchase a rental property, all-cash, with that $500,000. 

It's more of a luxury property but supposedly they can perform really well as full time rentals.

@Tim DiMario- thanks and welcome ...I would recommend getting formally pre approved for a hypotehtical scenario with a lender ...This process will help get you organized / prepared and its free ...you will also learn a lot ....if you never  buy anything or dont buy anything for soem time - its  OK ...good luck

What tools did you use to decide if this home would make a great mid term rental?