Duplex House Hack Advice

[Carter Henderson]

You probably can’t even call this project a house hack but looking for advice anyways.

I have found duplexes in nice areas of the city, #2 school district, that have nice modern updates and nice big backyards. One is going in the low $400k range and the other for $445k. Between my wife and I, we bring in a little under $100k/yr (should be over $100k in 2020), we have $25k-$30k for a down payment and don’t spend very much. We are currently renting in the city for around $1.5k/month.

The duplex going for low $400k has a current tenant paying $1.6k/month and the $445k duplex has a tenant paying $1.7k.

I do not care to make money initially off buying the duplex and okay paying anything under $1.5k for all in monthly expenses for this place. I think building the equity would suffice for now and then moving out to rent the other half in a couple years.

Does anyone have advise for this deal? Do the numbers not make sense? Is it stretching too far? I would appreciate any information!