As far as your specific question goes, I don't think the banks will count the rental income on the house in FL towards your income requirements for the new mortgage because you are still living in it, but that's a question you'll need to ask your lender to be sure on.

My knowledge is outdated since I no longer live in NJ

It might help that you live right above in same building.

Someone lived here 2 weeks prior to me clearing it out.

Hello, so I've seen that FHA loans do not like you to rent out your property until after you've lived in it for a year, and then even then, they seemingly are not compatible at all with short-term rentals (under 30 days), like for Airbnb.

Code for new living space has been 7' ceiling heights for a while.

Additionally, there is a powder room adjacent to the living room.I am keen to understand the market desirability and rental potential of such a layout.

I realize many here don't live as close to your buildings as I do, mine are all within 5 miles, but for those of you who don't live far from your properties, how often do you drive by?

Before diving in, it's crucial to grasp the basic types of real estate investments:Residential Properties: Investing in homes where people live, ranging from single-family homes to multi-unit apartments.Commercial Real Estate: Involves properties used for business purposes, such as offices, retail spaces, and warehouses.Industrial Real Estate: Includes manufacturing buildings, storage units, and distribution centers.Land: Buying undeveloped land with the prospect of future development or resale.Step-by-Step Guide to Starting in Real Estate InvestingStep 1: Education and ResearchThe foundation of successful real estate investing lies in understanding market trends, property valuation, and the economic factors influencing real estate prices.

Hello, My name is karthik and live in Fuquay Varina, NC.