An LLC is not free.

Feel free to reach out to me directly!

You don't think they will want their insurance, which I assume they've been paying out of pocket for many years since the house was build and owners never paid, to cover the cost of a new roof and fix the leak which appears to have been there since the house was built?

I now live in Germany, with mother in law because we have a baby and prefer to live with grandparents for the baby, plus its free and clear and no rent. 

Hi Michael, This answer depends on the initial purchase price, rehab cost spent, and the ARV.

However if you want to generate more cash flow putting 15% down will help you because not only is it a lower montly payment but when you hit 20% equity they will remove your PMI.If you put down 5% I would stronly encourage you living in the Airbnb if possible and renting out the home so you can generate even more incomeIf you look at it like this it'll helpMonthly payment < Potential income + current rentIf you can move and reduce your cost of living that is always great at the bare minimum they should equal each other in my opinion because at least you'll have equity if the market you are choosing is a strong equity market.

@Bob Asad since you've lived in it for the two years you could potentially qualify for the 121 exclusion, giving you $250,000 of the gain tax free ($500K if married) like @Jeremy Ellis said. 

Feel free to reach out with any questions or if you’d like to schedule a time to chat more about your plans.

If you are planning on buying it with a smaller down payment, that will also increase your mortgage costs as you are borrowing more and also need mortgage insurance.The price of the home (from the seller's perspective) is based on market value and condition, not on whether or not it matches the 1% rule.   

Hope that helps in some way but feel free to reach out if you want to talk anything through.