buying a condo to rent out now but move into later
We are 74 and 76. We own a home fully paid for. We want to buy a condo locally now to move into in the next 5 to 10 years when we can no longer manage the upkeep at the house. We plan to rent it out until that time.
What are the tax problems when we sell our house and move to the condo? Is there any way around the problem?
Do you think our plan is a good idea?
I would like to put a huge downpayment to keep mortgage payments lower (smaller mortgage). Would it be better to put a smaller mortgage and a shorter term (15) yr... Or both?
We are looking forward to your free book and email news letter