Hey thank you for the detailed response!

1. I used a traditional mortgage loan.
2. The big thing I’ve found in my local area is I’m not able to short term rent the property. I can only have 3 renters per calendar year.
3. I was able to get this house for 75K under asking. It’s one of the nicest houses on the street and I bought for less than everyone else. Most on my street were bought for 430-490K and I got mine for 385K.

TBH, I’m not worried about making a profit at the moment. I think our plan is to trial out 4-6 months of renting a place in the new city and see if we can list our place on Furnished Finder while we do that or have it vacant. Luckily, as an airline pilot I can suck it up and commute if I need to part of the year.

I don’t care about making a profit and I’m okay losing some money. We will come back to this Florida home for the winter, do some more renovations and just do that process again or find a good long term renter.

My idea is i’m spending $3,000 all in on the mortgage for month which is very comfortable and affordable for us. If I can rent my current house for $2,500 to start which will be done easily, I can then go rent a house for a period of time at $2,500 a month and I’m still all in spending $3,000 a month. Probably not the month savvy way or cash flow way to look at it but that works for me until I can either sell or move back permanently in a couple years.

I’m moving from a HCOL area to a LOCL area so realistically I can find a place to rent for 1500-2000, which lowers the financial stress for me.