Transitioning out of first house hack and into Second proprety

[Sean Lynch]

Hi BP,

Messed up on the title,---- Should be *Transitioning out of first Property and into first house hack*.

My brother and I are preparing to get our second property and are worried about the timing of the transition. We currently live in, and are renovating, the first property. We're almost done with that so we are planning for the second. An opportunity came up on a Duplex in our area in a great location and the owner has not listed it yet. They know we still have a month or so before we are planning to buy and are willing to keep it unlisted if we decide to buy. Working out lending details now. We plan on renting our first (Single Family) and one unit in the duplex. Living in the other unit at the duplex.

Hoping some of you can shed some light on when to start looking for tenants for the properties, or any advice/insight you can give on making this transition while reducing the chances of having to pay two mortgages at once. Timing this right is really important for us.

Thank you,

Sean