[quote=SD Realtor]That is a good point FLU. Gotta keep them tax revenues rolling in.
CDMA you also brought up a good point about the viability of getting tenants due to the market value. This is something the OP would have to test out by looking for advertisements in the same area for comparable rentals. Subsequently then test it out by running advertisement and measuring the responses.
As for all those not understanding the mortgage payments… find a friend with a 5 or 10 year fixed rate loan, and ask them what their amortization period is.
Post the results of how many come back and say they had a 5 or 10 year amortization period. I will be quite surprised if we get an answer above 0.[/quote]
Basically, the way I am thinking $400k capital gains free is like $60k tax free currently (assuming if it were to be taxed later would be at the 15% bracket)…
I wonder how long that will last…Remember the already changed the rules *slightly* when you change your property into a rental and back…
Plus I’m not sure floating a 1.1 million home as a rental property would work out better than selling, and buying better cash flow property…if the person doesn’t actually move back here….
