First Real Estate Investment

[Tyson Vallance]

Hello, Everyone. I am at a stand still and confused on what I should do. My dad is owner financing me my first Real Estate property. It's a duplex. I am engaged, and getting married on May 1st, and the plan was to move in to one of the properties and rent the other, but something has come up. There are renters interested in both of the properties. With one property rented it pretty much pays for it self but with both it would be around $800 cash flow. But we would have to live somewhere else. Also another note with the owners financing loan. There is a balloon payment in 5 years. So, there many options for us. 1. We rent one and live in the other, and pay the balloon payment. 2. We rent one and save up for a down payment for a new mortgage loan. 3. We rent both, and find another home, and pay the balloon payment . 4. We rent both and get another house and save up for a down payment for the new loan. I am just getting started with all this. I appreciate you're help! Please feel free to give whatever advice you have!