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Updated almost 8 years ago,
Got too many variables with my new situation - need advice
The executive summary - my company's local office closed and I get to work from home now. So total freedom to live anywhere there is internet connection. The variables. Have 100k equity in my house. Have a rental duplex 114k owned. Want to keep the duplex, it's been a good rental and when paid off, will net $1,300/mo. Want to sell my house and rent a house near a lake or river. Talking $800/mo or so. Very doable in Arkansas. Single Joe, so I don't care if it's a 1 bd, 1 bath. Current house would rent for $1500/mo but expenses also $1500/mo, so not a good candidate to keep. Thinking of buying another duplex with 60-80k down to cash flow or a SF. Don't want fixers, only nice properties that attract good tenants. Been a landlord for 20 yrs, so I have some experience with crap property and what it attracts.
So what advice with 100k in my back pocket and wanting to get a decent return instead of parking it in traditional investments? Thanks for any guidance.