Purchase price: $273,000 Cash invested: $60,000 Sale price: $375,000 Purchased the property with a "subject to" agreement, did a cosmetic renovation, cleared outstanding condo dues, and resold the property.

Do a cash out refinance to offset any credit card or installment loan with a rate above 9% to offset the loss until you have the ability to sell ot or transition into a STR.

How did you add value to the deal?

Would be great to build a small group for zoom discussion. 

Welcome to Bigger Pockets David!

I am new to the area with my family of 3.

I wouldn't count on serious appreciation over the next 5 years or so.

It's OK to leave them on a month-to-month lease, but it must be in writing or you have almost no protection.Show me a tenant that's rented the same unit for 20 years, and I'll show you a tenant that is below market rate.

We're familiar with the area and have been vacationing there for over 20 years.  

When I want to rent out this house, I am thinking of leasing it to an LLC which will have both me and my wife as members and that LLC will be leasing it out to the tenants.