fair points and thank for for responding. My concern with multi unit properties is the quality of tenant, that and cash flow on any properties in our area is very hard to come by. I need to go 2 hours south of where we live to find multi units that produce cash flow, with 20% down. The only reason I think it works for our existing house is we leave 150k in equity and keep the piti lower.
What I’m hearing is $400 positive is likely at best a break even. I also hear you that buying a nicer primary home isn’t real conducive to the long term plans.
I’ve been calculating 10% vacancy rate and understand I have maintence on two homes if I go that route.
I figured the 1600+2400 payments was still under a 33% dti, we don’t have much other debt to consider.
I have also considered doing the same thing but selling our existing home when we find another and not doing a rental now, it’s just the positive cash flow is not something I’ve been able to find in our market so I thought that may make it worth doing.
Thanks again all good data to consider.
