Most of my clients allow some work from home.Living well below our means allows us to afford buying 2 houses a year (the challenge is to find the deals worth investing).We don't currently live on the rental income, but we count on it for our early retirement around age 50, when we will take over its management as a part time job.We involve our son in this process, explain to him why we have rentals, how it all works, and encourage him to think about personal economics.

The fact that the home is only 15 miles away should not come into play but you might have to explain the need for a larger home.

I would just make sure that you correctly explain how empty homes lose value FAST.

., I encourage you to make your offer based on actual numbers vs. using appraised value.You need to explain to the seller that a bank/lender will also underwrite the asset using most likely income on a T-1, T-3 and expenses at a T-12. 

I'm hoping I explained this accurately, but like i said i just learned this myself.

Thanks for explaining!

Can you explain?

If they do have seasoning requirements call the lender and explain the transaction, you never know they might let you slide if you actually close then resell instead of just assigning the contract. 

I could probably just make up a plan, but I'm not sure how to explain it to friends and family that wouldn't sound complicated.

I don't hide that & I explain what that means.