When we moved, we turned it into a rental, hoping this would be the start of our real estate journey—something we’d like to continue once my husband retires.Some key details:My husband is active duty and will retire in 3 years.We have one final move coming up this summer to Raleigh, NC.Our current debts are crippling us—the high interest makes it tough to stay afloat every month.The plan me and my husband are thinking bout:Sell the rental property.Use the proceeds to pay off all our debts, set aside emergency funds and a down payment for our next home.Free up $1,500/month from debt payments, and that also can stash in a high-yield savings account.Regain full VA loan entitlement, allowing us to purchase a multifamily home and use the house hacking strategy for up coming move.Avoid capital gains tax, since April marks five years of ownership, and the tenant’s lease ends in May.This wasn’t our original plan, and we hate the idea of using our equity to pay off debt.

Add to that there is currently a ban on foreign buyers in Canada (only a few exceptions and as far as I know they all involve living here).Capital gains taxes apparently used to be higher (before my time). 

I have been using a deal analyzer spreadsheet that I found some time ago and that has served me well for analyzing "normal" deals with a downpayment and lender financing. 

It will just take time to remodel the place. 

@Rickey Mayes even if you buy a condo as a primary residence, alot of them will require 25% down if they do not have reserves and meet full review requirements.

I've been speculating the markets in the Midwest for some time now and recently decided to make a post on BP to attain more insights from people who live & invest in these markets.

If you do this every three years, you've paid all of this three times in a decade. 

Charge the tenant for all cleaning and repairs required to return the rental to these same condition as it was given, minus ordinary wear-and-tear.You can't charge full price for a replacement appliance, flooring, or even paint.

If the property takes some time to find a tenant, takes money to keep up the payments.

*Be patient, and allow time to work its magic.