[FMCoug]

Originally Posted by MikeWaters

I have an LDS neighbor that does it. My parents rent out their old house.

Both have had problems with bad tenants. Both now only rent to LDS, and do so at reduced rates. Actually my parents are copying my neighbor.

If you have unreliable tenants who are paying a high rate, if they stop paying or damage the house or do something stupid, and your house goes empty for four months or you don't get paid for four months....then you're not doing so well.

Both have decided that it is too expensive to have bad tenants.

I think it is a federal thing that you don't have to pay capital gains on your homestead, provided you have lived there for three years. So there's a downside to renting your house out after you move to a different house.

Also, at least in Texas, property taxes are higher on non-homestead homes.

A good property management company is priceless.