Living rent free, very little debt, what next?

[Kevin Childers]

I am living rent free, have a SFR that is currently leased that cash flows with about 30K in equity and around 20K in savings. I also save the profit from my house every month to reinvest in real estate at some point. My dilemma, do I purchase the property I am currently living in or look for a multi-family?

Pros to staying where I am at:

1. The 1 bedroom apartment has been fully remodeled by me.

2. Not having to deal with moving.

3. Potentially being able to build a duplex on the said property at a later time.

4. Possibility of seller finance. My parents own the property and are wanting to sell.

5. Leasing out main house to cover expenses.

Cons to staying where I am at:

1. Will need to have utilities split from main house. 

2. Rehabbing the main house. Mainly cosmetic things need to be done to it. 

These are minor cons but could potentially become expensive. I can do most of the rehab myself but might hire it out just to be done with it quicker since I have a normal job.