Option 1: Keep the home and rent it and cash flow about $2,000 per month while it appreciates.Option 2: Sell the home and cash out.Option 3: 1031 exchange the home into 4-6 units in Knoxville which would be about the same value.More info: Riverside as you all know is a great appreciating market but not landlord-friendly being in CA. 

I'm open to this but would like to charge a monthly pet fee or a one time fee (per a year long lease). 

That will help you Figure out how big a loan you’ll have to get unless you plan to add cash.

Following that we moved out and turned it into a short-term vacation rental around April 2021 and the last year before we sold the house in December 2022, we leased it out as a long-term rental for 1-year.

Looking for ways to keep this property in my portfolio as a long term rental.

As long as the money is green anyone will accept it.Good Investing...

I heard that short term loophole is a one time benefit that you get the year you start service.

I use QBO for my portfolios as well (been investing since early 2019).As long as QBO is set up correctly by someone or a firm that understands what's needed for an REI business it works great (better than the REI-specific software in my opinion).I'm happy to discuss in more detail if you'd like.Here to help!

Long Island’s westernmost County hosted 166 new listings during the first half of 2023.

Purchase price: $137,999 Cash invested: $15,000 Sale price: $260,000 Rental House purchased in 2006 and was my primary residence until 2019.