Based on your 140,000 for the new mortgage you’d need around 1,400 a month to make it viable and that’s just using the 1% rule.  

Your rules.  

Scott offered this as a tip in the BiggerPockets Podcast episode 311 - 6 Rules for Investing in Real Estate in the Coming Economic Shift https://www.biggerpockets.com/renewsblog/biggerpoc...Glad to see another investor in Montana on the forums @Andrew Schrader.

BP often talks about the 1%/2% rule which can be translated into the price-to-rent ratio (1% (or 2%) of home-price per month = price-to-rent ratio of 8.33 (or 4.167))Check left-over zip codes for low crime rate.That’s how far I am right now.

We are wanting to house hack this first property by living in one side and renting out the other for 1 year per FHA owner occupancy rules.

Rent should be established using 70% occupancy rule.

Rent should be established using 70% occupancy rule.

There are rules about reinvesting your gains that will be factors in how much cash you can keep without reinvesting it, if you do the exchange?

As a small time RE investor (two properties), I'm thinking it just makes the most sense to 'shift' some of the deductions I used to enter on a Sched A over to the Sched E because of the new rules/deductions with the Tax Cut & Jobs Act.

Send out a reminder letter to all tenants about the smoking rules