Scenario Advice in Northern Virginia

[April Eilers]

Hi! I have a scenario that I think is a no-brainer, but want to get your advice to make sure I am not missing anything. I own a house in Northern Virginia (Annandale) and have 200k in equity. I'm moving out of the area and I was originally planning to keep the house and rent it out for approximately $2750/mo, which would net 7,800/year profit after deducting the 2100/mo mortgage. That said, we realized we could sell the house, walk away with the 200k in equity, use that to buy two 100k investment properties (deals valued at 125k) and theoretically rent them for 1% at 1250/mo. This strategy would net us approximately 30,000/year (less taxes/repairs) in profit since we wouldn't have to account for any mortgage payments. What are your thoughts about these options? Keep in mind that Amazon is scheduled to come to Arlington (the neighboring city) in the near future as well as the projected economic downturn. Do we sell the northern va property now so we have cash in hand to buy the investment properties when the economic downturn hits, hold and sell after Amazon comes, or keep long-term?