Turning a primary residence into a rental property
I bought a home ~10 years ago (estimated price back then $300K) and put a down payment of $20K. In 2023 I moved out of state and kept the home as a rental property. Current estimated home price is $500K. How do I calculate my cash on cash return? what should be my investment number/denominator?
Is it the $20K I put 10 years ago, is it an estimated 20% of current cost (~$100K), or is it $0?