Hello,I recently found BP and have been devouring everything I can from forums to podcasts.  What am amazing resource.  My wife and I recently (February of 2018)  purchased our first rental, a 3 bedroom condo we paid ...

@Susan O.Non-qualified use is the period of time as a rental (not qualifying as your primary residence).Qualified use is the period you lived in it (qualifying as your primary residence)Your scenario would probably shape up into something like this...Daughter rents for  - 3 years (non-qualified use)You live in it for  -      2 years (qualified us)Total time owned -    5 yearsAmount of exemption available for primary residence - 40% (2/5ths) of the gain up to the $250K limit for you.Plus you recapture all depreciation.And don't forget that a property you convert into your primary residence that was the subject of a 1031 exchange has an overall holding requirement of 5 years. 

That's amazing that your tenants cover your PITI, we're just looking to decrease our housing expenses, but getting rid of them altogether would obviously be ideal. 

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

I've posted a couple times on Facebook Marketplace and there's where I've gotten 70 messages in total, but everyone either no shows the showing or doesn't meet criteria.

I've rented uhaul trucks for $100 total and picked up from 3-4 different houses. 

If you don't at least take this into account in your discussion and factor those in the seller will most likely totally blow off your offer as it would not seem well thought out and defensible.The other thing I would check on the tax assessed value is it one PID, sometimes they will split it into 2 PIDS, 1 house and 1 other land.Just thoughts.

There has to be more to it than that.I apologize for the total newbie question; I have no intuition when it comes to this kind of thing.Also, if anyone in the Grand Rapids, MI area has any recommendations for an architect or a GC, I’d really appreciate it.

I'll share a bit of information about them too because I think there is real value for readers in seeing the totality of my situation with real estate investing.

I forgot to add that the potential rents total $2400+ with a chance to increase them especially since the property is tenant-free at the moment.