We're trying to get our first rental property paid off with extra cash.

Financing seems to be tricky with IRA hence feel that its best to buy with self funding fully.

🎯 Leverage PowerWhen's the last time your broker let you buy $500,000 worth of stocks with $100,000 down?

I buy houses in the Memphis market.Terry Clothier REI Nation

Most likely trying to find a sucker to buy this and take over the costly legal battle they are entailed in.So next time someone is like "yeah just get a deed in lieu at closing", think twice about that.Actually, I use the deed in lieu.  

I personally like the buy-and-hold strategy and we help clients who share this long-term, wealth building mindset. 

Buying a new primary residence has nothing to do with the capital gains exclusion.It is when you go to sell the new house down the line you'll run into a problem.

The current average rent on the new buy is $925.

I originally wanted to buy into a vacation rental market but this last year has been crazy and we seemed to have been priced out.  

My personal preference for a buy and hold would be an already established area (or an area that's still gentrifying, but has already seen significant progress).