I really like the Nokomis area a lot - if you're looking at holding onto this one as a rental for a while, I'm sure you'll see some nice appreciation in the coming years too.Just curious, but did you do the full renovation after closing on it, or did it come pretty much turnkey for you? 

When I bought my first personal residence in Lexington, the property taxes at the 6% rate on a $100k home were at $2,900.  

Market rent: I don't look at market rent as 1 single number that I want to meet or exceed.

And, while the investor is at it, they may as well do a cash out refinance, or at least they want to know what those numbers look like.Here is what that financing might look like, along with pros/cons.From left to right: No prepayment penalty, 3 year prepayment penalty, no prepayment penalty. 

. $80k is a start (and impressive at 21!)

Looking forward to learning alongside you all and doing what I can to help you as well.

Looking forward to hearing the replies

Is there time limits to convert, I understand that there may be depreciation recapture, but if I keep that as a primary residence say for 20 years or longer am I going to have problems with IRS. or at some point way down the road there will be depreciation recapture or does that go away after awhile.

I recommend that you reach out to your landlord lawyer. 

Do you have any recommendations for neighborhoods in RhodeIsland ?