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Updated over 6 years ago,
Duplex or House? I can't decide which is better for me
Hey guys! I've got a question that I need your expertise on.
So for my first ever property I've got 2 options. A duplex for 150k (15k down) with PITI at about $900 per month. One half is already rented for $813 and then I'd get a roommate for $300-400/month.
Option 2: get a house with an in-law suite. 5 Bedroom 3 bath. 20k down, PITI would be $1200 get roommates for the upper level to live with me $350-400/month (goal would be 3-4 roommates). I could sleep in a room or on the couch to free up another room to rent. Then I'd have the option of doing a monthly rent on the in-law suite or possibly doing an Air BnB. Most of the places on Air BnB that are similar go for $50-80/night.
I'm having a really tough decision on which option to go with with my main goal being to live for free and potentially produce some cashflow.