This will vary from jurisdiction to jurisdiction.

GreetingsI appreciate the continued feedback. 

Clarity is SO key (as I, and we all should be, continually re-telling myself/ourselves). 

So, I am thinking of couple of strategies.1) To sell and reinvest in other properties, i will have to do a 1031 exchange since it has been about 5 years since it has been my primary residence.2) continue to rent it out and wait for value to increase further.

As SFH prices continue to rise along with rents. 

So far, they're continuing to be on top of everything and doing a great job managing a tricky tenant.

Thats why I'm transitioning to fix and flip, where margins have shrunk but still there are ways to make a buck...Continue reading and listening to podcasts and you will see that there are plenty of ways to start in real estate and not all require big down payments.Good luck!

We’re now ready to buy a multifamily but because our rented house will continue to count as debt for two years our DTI is way too high (49% after taking into account the mortgage on a new home).

Thinking about settling on one of the properties, but wanted to know if I should continue searching.Thanks in advance,

Any advise on how to structure a legitimate deal if he continues to pay the note and I provide financing for the rehab?