That along with the eviction, regardless of the reason, makes it a definite no-go.

@Terrence Williams - I know it seems counterintuitive to not use debt... but basically 2 reasons:1) We bought a distressed deal and the bridge financing would have been too expensive2) Less risk and now we don't have to worry about the debt service 

thanks man and yes that's why I would like to see outside my are because I live in a good market but I think that a lot of investor and home owner are playing too much with the prices and the other reason is to expand my range of action 

@Will Proulx the whole reason of my post on "how to get cash out of a 1-4 unit property" is to totally avoid the "whichever is lower" rule. 

As you mentioned, your dollar goes much further in Louisville than it does in California, and because of that very reason I've been searching the Louisville market for investment opportunities.

Va is normally very good about understanding relocation as a reason you would not live their for a year.

I got the vibe that they aren't trying to help but find a reason to not be liable. 

That seems like very reasonable seller financing.   

Use an LLC and not a s-corp their doesnt seem to be any reason to use an s-corp in this situation.  

So in Antigonish, which does have a university and a hospital but isn't growing, the cap rates are maybe 8-10% while in Halifax, particularly the HRM, which has numerous economic drivers and IS growing, the cap rates are around 4%...i agree with you Jeremy about the low vacancy and tax rates in Antigonish.