The 4 years before you moved in is known as a non-qualified period and you have to prorate your gain to the non-qualified period.

The biggest piece of advice I have for you is get as much completed (that you can afford) before you move in.

There is a lot that goes into choosing a city out of state to invest in.

Hello BP community - This is my first post where I am reaching out to the BP community for help and could use some advice on the situation I am in.

What makes a great area to invest in is the spread...not the # of renters or the affluence of the area. 

Thanks for weighing in...I was thinking the same thing in terms of the land value.

If they don’t end up moving in I would tell them they are responsible until a new renter is found but you will return whatever is left over.  

Personally, I need to see both cash flow and appreciation in the deals I invest in, I don't want to take negative cashflow just for appreciation, that'll cap the number of properties I can singularly own.

Thank you for chiming in! 

Now they are really falling behind and the next water and sewer bills have come in.