This is obviously much better than $1,400 per month.On top of that, you will now get 2x the depreciation write-off so your taxes should go down.On top of that, you will now get 2x the appreciation when real estate price go up.On top of that, your tenants are helping you pay down the loan, initially at about $100/mo for both properties, which gradually gets better and better.On top of that, you now have more units so if one or two goes vacant, you have more renters covering the losses of the vacant units.If you want to keep these properties, I would do a cash-out refi and go buy more rental real estate.

Allen, go out of your local area to invest.  

When we built up the triplex, we set it up so that each of the 11 rooms can be rented out individually (all BR, except 2, have their own bathroom behind an electronically locked door).

@Leslie L Meneus you are trying to find a tribe of super freaks.Let me explain…Only 6% of Americans own one or more rental property.  

  $100 a door doesn't help cover the unexpected repairs. 

There are things you need to be aware of prior to going down that path, though

thanks for your time and help 1st off, full disclosure here, Rent To Retirement advertises their properties on my Investment Properties For Sale Show, so I am not a totally unbiased opinion and it's only fair that I tell you this up frontHaving said that, outside of running my show for people like them, I also own a property management company in Northeast Ohio and have worked with 1,000's of out of state investors over the years.I say all of that to say this, the overwhelming majority of negative reviews I have seen on them are very similar to a lot of negative experiences investors have with my property management company and others like it that I've worked with.

I have former teammates of mine that are now leading agents and brokers in the popular cities of NC, Winston-Salem, Greensboro and Charlotte.

(You said you plan to buy it for the amount of the loan, not the value of the property.).

I am based out of Westchester County, NY, looking to invest in multifamily properties.