I don't think anyone is able to give you advice without knowing the marketplace and the state of activity there....

It sounds like you might be addicted to the process. Can you afford all three and #4???

Not enough information to make a statement but if you do rent it it would be for neutral or positive cash flow with the belief that your market appreciation is enough to hold it but also become familiar with the tax situation for being in a onwer-occupant homes less than two out of the last five years.

Eaten by the monster of real estate!  3:)

The best advice you could get is to contact your CPA/tax person/financial advisor. There are so many variables, really there are.
Including, but not limited to:
What's going on in your market?
Will renting the home offset any lack of equity?
Will taxes/expenses slurp down profits?
Total cost of capital?
Can you carry a note, if you own free and clear?
And on and on and onnnnnnnnnn . . .

Rates will certainly rise.

Here in the Tampa Bay area, house prices rose 14%.

However, only you have the details to know if this makes economic sense.

As an INVESTOR, you MUST let the numbers dictate your action. When you start chasing feelings you will eventually  find yourself in a heap of trouble.

Every home I've ever purchased was my "forever" home. Then, by the time we lived in Charlotte 8 years I was living in my third home! But I always sold each home before closing on the next one.

Sounds like you should rent it out for a few years so you can exit with all your equity after costs!

My personal view is I'm in my forever home.  I've bought three since then as rentals.  I focus on buying and building that aspect of my life.

Christina,

I agree with Barbara Todaro .  And I would talk to your financial advisors.  A

Not having inside knowledge of the market, it is difficult to make a meaningful recommendation.  However, my initial thought is, if you have the financial means to afford it (and you indicate you do) hold on to the home.  The renters will be paying the mortgage, while your equity builds. If you can, hold on to as many of your rentals as long as you can.  It is great retirement income.   All that said, I'd recommend speaking to your financial advisor and/or tax attorney.  

Also, speak to a lender.  Since you currently hold an owner/occupied loan, it may affect the kind of loan you can get on the next home if you don't sell the one you are currently in.  

This may be a more appropriate question for Judge Judy or a marriage counselor.  Seriously, this is something you and your husband need to discuss.  We can give opinions quite easily.  You will need to live with your decision.   Good luck.  

Christina Hayes 

My re team mate bought 4 rentals in Silicon Valley during the Great Recession. She decided to become a slumlord and got a RE license on 4th rental purchase. Our area (Silicon Valley) it means 1.5-3X price increase (from 2009 to today). Today she is still renting! I have advised her to sell or move back to their own home. A better investment is to trade rentals for multi-family for income after retirement.

A home that has just breakeven after steep home appreciation era does not like something I like to hold on. I will go to better neighborhood and hoping to stay there longer.   

My team member is looking for her #5 rental.....

Christina Hayes Sounds like you haven't found that forever home yet. If you can afford it why not? Go for it!

Only you and your family can make this decision based on your market, your personal financial situation and many other factors that I am reading into this.  Remember your job as a real estate professional is to guide others to make the right choice for their needs.  That guidance should be turned around into what you would do as a real estate professional and use it as your own guide.  Maybe a CPA, Mortgage Professional, your Broker or your family might be a better place to start this conversation.  There are way too many variables on this one.  

You can only live in one house and occupy one room at a time . If they are rented and tenants continue to pay rent that's a good sign but if the tenants stop paying or move out in the middle of the night are you prepared to deal with the expenses and management . The rule use to be hold onto 2 years but I'm not sure if you nee to if there are no capital gains.

You must love to move.  Do you unpack?    

I would wait 2 years then buy

I'm not able to advise you as there is so much information missing - in the end it's up to you however, watch the rates and if you can get finanacing I would consider keeping the house, renting it out and getting the next

That way you're building for your retirement with lots of options should something happen

If you want to move and need a mortgage, take advantage of the current very low mortgage interest rates.

You are suffering from homepurchasitis!

If you have the ability to purchase another, then sell this one and move on. Be happy and make sure the next one is 100% it.

Christina Hayes - two word answer: It depends.

Whether or not it makes financial sense would be my #1 consideration. The lower interest rates and rising prices are 'temptations' but, the bottom line, well, IS, the bottom line!  You'll have to let us know what you decide Christina Hayes!

If it is financially feasible, hold onto it. You may only break even now but rent rates will rise and you'll start cash flowing. HOWEVER...I would only advise this if you are financially sound, have a reserve, and the market supports it. It does sound risky to someone of questionable skills.

Not enough info for good advice, I think you need some sound financial advice

You haven't said why your new home is now unsatisfactory.  I'm not trying to dig into your personal life, but it is important that you are very clear why it was supposed to last and why it isn't.  If you have reasons like, 'the kitchen isn't right', then I don't buy it.  You are a very experienced home buyer and this was supposed to be a dream home.  Look deeper than the house, Christina.  If you are the one wanting to move, look very deep at what keeps you moving on.  Address this first, and then re-assess with all the others' advice on taxes, rentals, etc.  First get to the bottom: are you moving away from or toward...what...and why?

Buy an investment property that you will eventually move into.

Would you get a good return on it if you kept it as a rental? I would do that in lieu of not getting your money back since you have owned it such a short time.

Barbara Todaro answered this best. I can add that you need 2 years in the home to get your Capital Gains Tax Shelter too. Why so soon, do you want to move?

If the location of the property is in the upper 10% of all US cities - hold and rent. Why do you no longer like the house? If the reason is something that cannot be fixed, sell. Do you both have jobs in this location?

    If it would make a good rental property, keep it.

I'm with Barbara Todaro on this one....plus you need to talk to your financial adviser..so many unknowns for us to speculate.

keep going

I agree with Barbara. 

Look at the number and decide what it the best strategy in your situation. Maybe it has more sense to sell of of other two houses. 

I am with Corinne Guest, Managing Broker on this. Only you know your finances and your local market. 

I can't and wouldn't advise you since I know nothing about you, your husband, your financial situation, you location, your current and previous market, etc.

Depends on your market and the deals you find, I think that much of the nation is near the top of the curve right now.

I would wait a bit, save your pennies, the bubble will burst and it will be good to have some cash for down payments.

Why would you like to sell? I would suggest that you talk to a local realtor and find out the current market trend. Here in Dallas you will not be making any money in that short period of time. In Northern CA, maybe. I was there during the real estate market boom and saw everytime a house sold in a subdvision the next similar one was listed at $10k above or more.  I don't know whether it's the case again there.  

You may want to verify past performance of the homes sold and leased in your area before determining to sell or lease your home. Discuss with your realtor! Good luck!

You should decide.

I suggest talking with your accountant on the best strategy for you.

Curious, why do you want to move again if you bought it thinking it was your forever home?

 Hi Christina, if you're at least breaking even and don't mind the process of moving and going through the paperwork, I'd think you have nothing to lose.

I'd strongly consider what made you change your mind between home #3 being the 'forever home' and now wanting something new so soon though to avoid it happening again.

As for rates, they'll continue to rise and continue to fall --- over the next few years I'm guessing there will be an opportunity to both lock in low rates (like we have today) but there may also be another opportunity since the market looks pretty good for price reductions in the not so distant future.

You should meet with your trusted financial/tax advisor.

It doesn't sound like a financial decision ?

Christina Hayes, if you do decide to rent it out, when you are ready to sell it, you can probably do a 1031 exchange to defer paying taxes on your gains since you haven't lived there for 2 out of 5 years.