Investment Info:Single-family residence fix & flip investment.

Not able to move (at least for a while) due to my job.Looking to use savings that would’ve been for a primary residence down payment to invest in rental property out of state.Would love to make connections, hear thoughts on good markets to look into, strategies to maximize return, etc. 

What if you keep the property the way it is, use it as an equity builder..

FYI Dominic, the resident had been in the property since early 2019 and ran into issues in 2024. 

Then, if it is still negative cash flow, but the equity is there, then consider selling. 

Assuming when you say "$3900/mo in rental income" you mean cash flow.That means it will take you about 13 years of rental income to equal the $500k in equity you have now. 

With San Diego, we would plan to rent as I just don't see the value in owning a house as a primary residence, there are just too many expenses to justify the cost of home ownership, especially in San Diego. 

Due to the popularity and scarcity of these properties in Nashville, it would be difficult to find a property meeting the STR requirements given a proposed purchase price of ~$300-350k.Additionally, your situation is a bit unique as it sounds like you may be living away from your primary residence more often than not, and as such, I also recommend you confirm with a lender whether this situation would qualify for this type of (primary residence) loan.

Part of the equation is how much equity can be drawn from your property as well, this would also be a question for your lender.4.

It was my primary residence for two years before I turned it into an investment property.