Your best source on information on this subject might be your accountant or tax advisor. Renting opens a whole breadbasket of "opportunities" for you-higher insurance rates, additional income to be reported, depreciation, expenses, possibly commission to property manager, maintenance, etc. If you can't afford to buy in Georgia without selling it, (banks are real right on the Debt Ratio number now, even with a good Loan to Value Ration provided by a big downpayment). Do you have someone you can trust to "monitor" your rental? We haven't even begun to think about the buying side of life-are you transferring your job, moving for other reasons and have to find a job, know what area of Georgia you are focusing on, etc. On the positive side, renting can be an advantage, tax wise, if set up and reported properly. Just know that there is a recapture of any depreciation when you sell unless you have rented for a long, long time! Not trying to be a wet blanket, just letting you know that it is always "buyer beware" and you need to do your homework on both sides of the issue. Good luck to you. Hope you come and visit us in the beautiful mountains of Blue Ridge and North Georgia when you get here!!
Judy Aselton, Blue Ridge, Ellijay, Cherry Log, Ga.