Since multifamily requires trailing data to sell, typically a minimum of 3 months, building that data during this phase can be very advantageous to position your property for a sale in the next phase, at the height of the market.Today we are arguably in a Recession phase in the majority of multifamily markets.

This leaves the two oldest to help manage his expenses).

Typically 25%+/- down payment is required.

Managing the $60,000 renovation budget required careful oversight to ensure timely completion.

Most municipalities in Alabama require a business license for long term rentals, also.

Another CPA can correct me if wrong but I don't think there's going to be any recapture here.27.5 to me implies 1250 property and if acquired after 75' means no additional depreciation to recapture.I think there would be unrecaptured 1250 in the amount of the depreciation taken previously, max 25% at ordinary rates.The total gain less unrecaptured 1250 I believe would be 1231 capital gains, not considering other factors like look back and netting rules.Also the land would be 1231 and would get capital gains treatment.And personally I would subtract selling costs as a capitalized selling cost.Amount RealizedLess: Adjusted BasisRealized Gain/LossLess: Selling ExpensesRecognized Gain 1001I could be wrong though so correct me if so.Article for those interested:Depreciation recapture in the partnership context (thetaxadviser.com)While Sec. 1250 only requires additional depreciation to be recaptured as ordinary income, Sec. 1(h)(1)(E) subjects unrecaptured Sec. 1250 gain to a maximum tax rate of 25%.

It is possible, but harder to do and more expensive, once I move out of a house. 

While of course there can be exceptions in any of the cities I would rank them in order of price range, Prosper most expensive, probably $1mil and up, then Frisco, then Celina and then Little Elm where you might be able to get in for $350,000 or slightly less.

Plus they are getting super expensive to build.

Create a simple spreadsheet or written list to compare the features of each and identify the ones that align with your requirements.