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[quote=Anonymous]I'm selling my FCC house with a 2.5% mortgage because I hated the neighbor, lol.

But this year we have rented it out. I'd always told my DH I didn't ever want to become a landlord; I've heard too many horror stories. But aside from it being more work than I thought to get our tenants, we've had zero issues. We required min credit score of 740 for every adult who would be living in the house, and I think that controls for a lot.

But we will be selling due to tax considerations. The house appreciated a lot in value and you don't pay tax on the sale of a primary residence -- and after three years of renting it out we can no longer call it a primary residence for tax purposes. So given that we will want to sell it eventually anyway, we are going to go ahead and sell when our tenants move out after the end of their one year lease to make sure we avoid taxation on the appreciation. We did not use a management company, which you might need to if you are out of the county; and so be aware that when we looked into that we found that they charge you one month's rent to find a tenant, and then charge you another month's rent to manage the property. That would have cost us money rather than us making money, so we have dealt with all of that ourselves. But we are local, and my DH is great at home maitenance and can fix anything that comes up (and a couple of things have).

If I were you, and knew I were coming back in three years, I'd be inclined to keep it and rent it out so that you can move back in. But beware of that tax thing -- if you come back in 3 years and decide you want to live somewhere else and you sell, you could take a tax hit on any appreciation assuming there are no exceptions that apply to you. [/quote]

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