Weighing options between a single family and double

[Brooke Szyjka]

I am between the both at the moment. I have specific properties in mind but I’m really not sure what would be better for me.

Double is a $233k purchase price, 3.5% down with $5,113 in taxes. I would live in one unit and receive around $900 a month in rental income. The payment would be approx $1400. Obviously I am house hacking with this one with the intention of staying for a few years then moving on to something else and rent both units out which will have income of at least $2,100 a month for both units.

Single is a $195k purchase price, 5% down with $868 in taxes. Payment would be around $900 a month and is in an up an coming neighborhood.

For reference this is in Western New York.

There will be no PMI on either property. Very between the two at the moment and would appreciate any outsiders input. I have not owned a rental before so that would be new however I would like to own a rental sometime in the future if I do go with a single family at the moment.

Unsure if it’s best to start with one rental now to see if it’s something I would like or just try later.