Re: To those who rent out their home....
I did it with a 2nd mortgage for 2.5 years. Now would not be a good time to borrow from your 401k or any other such retirement account as prices are so low. I also used a tax professional to do my taxes. You'll find you'll be able to deduct inspection trips to and from your current home to the business home as well as furnishings upgrades maintenance etc. When you finally move in though you may take some kind of tax 'hit' so save some for later.
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Life should NOT be a journey to the grave with the intention of arriving safely in an attractive and well preserved body, but rather to skid in sideways, cigar in one hand, scotch in the other, body thoroughly used up, totally worn out and screaming "WOO HOO what a ride!"
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