And while my professional growth is important to me, I also balance the demands of a busy family life with my wife and four young kids.Looking forward to more insightful discussions like this. 

We plan on doing this every 5 years or whenever or loans mature.

Hope this helps!

Purchase price: $550,000 Cash invested: $145,000 Sale price: $915,000 This was a home run for a long term (5 years) buy & hold investment property (I specialize in this area). - Initial investment of $145K (DP+closing)- It had one tenant for 5 years and 3 months (no turnover), and the tenant paid off the mortgage and expenses in those 5 years.- I spent around $30K to do upgrades before selling.- Sold it for $915K after 5.5 years (received $442K at the closing)- Did 1031 exchange and bought 8 SFH in NE & AL worth of 1.6M (brings $4k/months income now) What made you interested in investing in this type of deal?

I'd love to buy there again due to inventory and performing rentals but it's not worth it at this time.  

We have done this multiple times as long as both properties are rentals it shouldn't be no problem.   

If you're talking about building an interior wall to create a bedroom, this could work so long as you aren't significantly reducing living space compared to the competitive rentals. 3 bedrooms with a tiny living area could cause problems.

Am I too concerned about this?

This year is probably already 80% booked for March.

Purchase price: $525,000 Sale price: $575,000 I regret selling this property but was moving out of state at the time so it made sense to sell.