In this South OC buyer's market, some homeowners are leasing out their homes.  It's good to lease out and generate some cash, possibly take advantage of selection, house prices and low mortgage rates to buy the next place.  Renting out your vacant house is a good thing, perhaps even if you must borrow against it to have money for a down payment on your new property.  However, you must be careful and prepared to act as a professional landlord for at least one year.  

Posted by Harrison K. Long, Explore Properties Group[www.ExploreRealEstate.net]