Check your comps carefully compare sf and condition for your rental value.

you can convert that one too.Apartments rent on AirBNB all the time, no reason you can't do it - but of course, check out what comparable units in the area are getting, get a feel for demand and occupancy rates, make sure it's going to be worth your while before you proceed.

The owner is presented by a family-member that is a broker.I did my own comparable market analysis and feel comfortable with the price and the terms.

The owner is presented by a family-member that is a broker.I did my own comparable market analysis and feel comfortable with the price and the terms.

You need to be comparable to others in the same vicinity. 

., rental) use would not include any period after the last date that the property is used as the principal residence of the taxpayer or the taxpayer's spouse, so it essentially doesn't matter that it was a rental from December 2014 - June 2017 for purposes of the home sale gain exclusion since the last date you lived in the property as your principal residence was before you rented it out.Depreciation recapture is another story.

BTW, I'm also in ministry and trying to build up my portfolio for the sameness purpose.

Using correct vacancy rates, tax numbers, and rent projections will allow you to compare deals across markets.

The first thing you do is anticipate what the max impact is if the interest hits the max, and prepare for that when you buy the property.Since that ship has sailed, one option is to pay down the principle, but that defeats the purpose of cash flow.You say all your loans are commercial, and they have to be for some reason. 

Back then it seemed like the best major metro areas to invest for CASH FLOW purposes were:  Indianapolis, Memphis, Kansas City, Oklahoma City, and maybe some cities in Ohio.