Going backwards. Primary to a house hack how to underwrite??

[Timothy Allen]

Hey BP!

My wife and I have lived our lives "backwards" Had kids, bought a house then got married...hahah

No but seriously. Oldest son is out of the house and in college now youngest is close. My goal for this year is to rent out our primary and move into a house hack opportunity.

Problem is we live in very rural western Massachusetts town and my wifes only rule is is that we stay within our youngest sons school district. There are not many multifamilys available as ive been watching the market for the last year.

I was however just recently able to find the owners of a duplex a street over from us off market and they are interested in selling come early summer! its vacant now and they plan on freshing it up to sell. They gave me rough number and is reasonable for the area although like I said trying to comp a duplex is tough.

My question is is this a good deal for me?

With what my PITI would be the rent from the other unit AND the cashflow I'd make on my primary would just cover the mortgage. We'd be in it for utilities basically. With that said that leaves the gamble of vacancy's at both my primary and the other unit. Does this sound like a stretch?

With everything occupied I see it as I've acquired another property in a great appreciating town and would be living mortgage free but only by leveraging two properties.

Ive been back and forth on this is great all the way to no way your leveraging too much.

Thanks ahead