Removing good tenants

[Sean Connolly]

I have been caught in a dilemma for months now. I have a 3 unit property. There is a 3BR SFH and a duplex with two 1BR apartments. I have been living in the 3BR since purchasing the house two years ago, slowly fixing it up. The time has come where I have completed what needed fixing. My plan is to move into one of the 1BRs when they become vacant, but neither plan on moving anytime soon. Both units have good tenants who I have had almost no problems with, but by moving into the 1BR, I can rent the 3BR out and would completely cover the mortgage, giving me more to save toward another property. (Not to mention I love that apartment and prefer it over the 3BR)

Would it be wise to remove a good tenant just to make more rental income? 

3BR Rent in my town averages $1400. 1BR Rent average is $800. They are paying $750 for a higher end apartment for the area.

Any input is greatly appreciated.