Insight Needed: Considering Selling Multifamily

[Edmond J Daugherty]

Hi all, we bought our home Oct. 2017 and overpaid in NJ (Gotta love taxes baby). It's a mother/daughter, did some work to it and rented out the upstairs (we live downstairs. owner occupied). We have consistently added money into the home and have made big improvements recently (Redid both kitchens, tenant turnover and separated hot water with a new heat pump water heater for downstairs) Anywayssss, sorry for too long of a post already....please see purpose of asking below.

I would like some insight from those who have more knowledge than me:

-Since NJ is ridiculously expensive considering selling our multifamily and starting over in PA (especially since in my view we overpaid)

-I'm curious what most think related to how big housing market may collapse due to COVID?

-Our family is growing so considering getting a single family in PA (farm, taxes much cheaper, mortgage much lower) and using cash (if we make a profit) to buy turnkey multi families out of state.

-Also wondering if the rental market may get saturated in the future too?

Would love any insight anyone has.

Thanks,
Ed