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Updated about 6 years ago,
Should I rent to live in while collecting rent on other prop?
Me & my husband currently live with his parents. We just recently bought a multifamily and was originally going to move in. However, we live in a 3 story house with the floor to our selves and his parents don’t want us to leave. Besides the fact that I’m used to living alone & would actually prefer it, it’s comfortable living here. The problem is that they are now wanting to move other family in permanently & offering boarding temporarily to other family during the holiday season. I’m 100% against that idea. We were going to stay until May but now I’m looking at other options as far as living arrangements go. We could live in one of our unIts which would discount our cost of living but would elImInate the profIt we are receiving. Or we could rent elsewhere and collect the rent for all the units which would discount our cost of living even more. What would you do in this scenario? The point of buying the duplex was to not have to rent but it’s making more sense with the number. Is it a bad idea? Also need to add, we have about 15k in cash that we’re possibly thinking about looking for a auction home with but not sure if we should do something else with it or keep saving to buy a house to live in. Any suggestions? You guys usually have a lot of out of the box ideas so I’m curious what any of you guys would do in this situation