the numbers are as follows:purchase price: $ 25,000rehab costs:      $   5000closing costs     $   3000ARV                   $ 60,000 ( professional appraisal)projected profit              $32,000I have purchased several houses in this city and currently own 2 right in this neighborhood, in fact, one right on this same street. the code enforcement officer in this city and i are literally on a first name basis and he has never, ever set foot inside any of my rehab projects because, in his words, " i trust your work". i feel greatly confident in my knowledge of this neighborhood and its ability to sell quickly. 

Hi,I am owning a nice house currently worth 600K (clean from any mortgage or debt) and finally understood that sitting on this kind of asset is just a monthly waste of money.As I am completely new to the real estate investment business, I am wondering whether it would be the right way to sell my current house and buy several assets for rental or keeping this and getting a loan/mortgage and buy, probably, fewer assets.I am sure there are many answers to my question but I'd really appreciate to just get some kind of idea of what the right direction would be.Thanks in advance for any replies  

Any ideas would be greatly appreciated.

Apparently this is a good idea to do.To do in January 2017:2016 After-tax dollar for dollar contributions: Transfer $35k from my business account to my "after-tax" 401K and $35k to my wife's "after-tax" 401K.  

If you've learned the terminology, learned how to run the numbers (accurately), figured out a strategy that works for you and have a realistic idea of the rental rates in your market, then just do it.

Sadly, it won't help my credit since there is no mortgage on it - and it doesn't even appear on my credit report.Thanks for all the good thoughts and ideas!

It will give you an idea of how your home compares to other options tenants have.

I found a partner (happens to be my father in law) that can be my boots on the ground while i do a lot of the back office stuff and deal finding that is not his strong suit.  

Sounds like you were sitting on the idea for a while before you got started. 

Agreed, having at least some cash on hand at all times is a great idea.