My son currently lives in the townhouse b/c he is going to school and works in the area.Since he is young and starting out in life, I would like for him to only cover the basic costs (taxes, HOA, utilities) just enough for me to break even (I believe that will put him slightly little lower than market rent rates). 

Hey @Ashley Kroft I love using Pricelabs feature of creating a comp set because you can really drill down to the finer details of what others are doing in the market, in your specific area.

Additionally, while rates aren't historically bad right now, they are higher than 4-5 years ago, and they will be even higher for you as an investor than they were as an owner occupant, which is what you were when you bought originally.I get that you are anxious to add to your portfolio, but that could be achieved without touching your first golden goose.Sometimes on BP, the push is to leverage every last spare penny, but that can be a risky game as the markets shift. 

The property has remained 100% occupied throughout my ownership and is on track to continue receiving market rents from both tenants.

The property has remained 100% occupied throughout my ownership and is on track to continue receiving market rents from both tenants.

Do you know the markets you threw out really well? 

If you are willing to live in urban areas you may want to talk to a local bank in your market and see if they have any incentives or grant loans for certain areas.  

The market is going to go up in the next 5 years.

You picked a great community to join.. have you checked out local comps to gauge the market vibe yet?

Flipping houses is a great way to create huge profits, raise private money and create marketing content around your remodels (the reason HGTV is HGTV).