What would you do, need to move.

[Jose Matuk]

Hi BP'ers, I would really like some recommendations on something. Long story short, after 2 years of moving to Austin for my job, we decided to buy a house (regular 30 yr mortgage). We got exactly what we wanted in Pflugerville, with a baby on the way we wanted the tranquility of the area, the great schools, the big backyard and it's in a golf course, so lots of green areas. Now my son is 15 months, and we have a girl on her way due in October.

My wife and I have been studying about REI, we took one of the guru courses here in Austin (but we didn't go for the super expensive mentorship program once I found BP), and our objective is to start adding buy and holds (and rent) to our portfolio, invest wisely the income we have, and build long term wealth for our future. Short term goal is to get at least one producing cash-flow asset this year.

As fate would have it, we need to move again soon to the Dallas area (job is near Richardson). This might be something temporary but at least 6-8 months. So the options I'm thinking of to use this situation to help kick off our REI endeavor are:

1. Renting out the current house and getting another one (perhaps a duplex) in Dallas with an FHA loan.

2. Sell this house and get out the little equity I have built, but it's not even 2 yrs and I know I won't get the tax breaks of having lived here for at least 2 yrs.

3. Any other ideas you guys can give me.

Thanks in advance!