Should I stay or should I go?

[John Timber]

Hello everyone, I’m new to the forums but I’ve been reading, studying, and listening to podcasts for about a year now. Anyway, I could use some input to make a decision about what to do when my current flip sells. I should be done with it in two months, and I should have about $50,000 cash free and clear when it sells. I also have my primary residence which is a duplex. I have horrible credit due to divorce, my ex wife racked up $16,000 worth of debt in my name and I am unable to make the payments since I’ve been dumping all my money into the flip. My credit is in the low 400s now. My goals are to repair my credit, build savings and purchase enough rentals to bring in $7,000 a month free and clear. I just need to analyze and figure out the best path to get there. My duplex when finished with both sides rented will bring in $1,300 free and clear. (So $5,700 more in rentals to reach my goal).

Ok, with that said, I was offered a $120,000 position at a company I worked at years ago, in San Diego, CA (I make about $40,000 here in Indy doing the same job). As for cost of living in Socal, I can rent a room from a family member for $500/month. My duplex income will cover all my living expenses, and my $120,000 job income will be strictly for debt payment and savings. I was planning to take the $50,000 and flip full time here in Indy (I do all the work so I just pay for materials). But, I know that is risky and most likely I won’t be able to pay my debt any time soon unless things really take off, so I’ve really been leaning towards taking the job out there. What’s holding me back? How will I continue my goal with buying rentals? I don’t want to be so far away from them, so that I can buy them cheap and remodel myself on the weekends. (I plan to keep my duplex though). The only way I would be comfortable would be something in 4-5 hr driving distance that’s somewhat affordable (thinking Imperial County CA, Yuma AZ, Nevada?).

What would you all do in my shoes?

Option 1: Stay in Indy with $40,000 job, possibly switch to flipping full time, not able to pay off debt/repair credit in near future. But, easy access to lower cost rentals and will be here to rehab them myself.

Option 2: take $120,000 job in SoCal, pay down debt/build savings. W2 looks way better for loans. But, lower cost rentals are much further away.

Thanks!