New Build Duplex Opportunity

[Brandon Blankman]

Hi Everyone--

A deal for a new build higher end duplex hit the market a few weeks ago. This consists of 2 units with  4 beds 3 baths and 2 car garage with a covered back deck. Other 3 bed 3 bath units in the area are renting out for 1400 a month. I would say with the nicer finishing and more space I could see these going for 1550 per unit. 

So my current situation has me living in a single family home I purchased 3 years ago with an FHA loan. I would really like to get into this duplex and house hack it. However I would have to get an FHA loan in order to do so. Thus needing to either refinance my current SFH and find a way to come up with the down payment on the duplex. Which ideally will lead me to renting the SFH and live in the duplex.

My second option would be to sell my current house and take the cash proceeds to purchase the new duplex. 

Im curious on how some of you would look at this situation and any advice is welcome on which path I should choose and why.