I’m weighing two options for our housing situation and would greatly appreciate your advice, given the complexities involved.1.Renovate and Buy Another Property•Invest to renovate our current home adding a bedroom to the house given our family outgrew the house.

The other day I started the thread Why do people Buy Property in California? 

I am not a lender, I'm an investor that typically buys major city-center multifamily. 

Sell and buy QQQ.

Many people buy a house with a FHA loan and then turn it into a rental but it doesn't mean it's always allowed.

I currently live in WA state and invest out of state for buy and holds.

You'll still need enough income and DTI ratio to buy another property in a couple years even with this rental income.

Jeffrey:I'm connected to a large group in Indy that focuses on buy & hold SF and apartment (commercial) residential real estate. 

Refinance with Rate Buy-Down:Pay 2 points ($8,640) to lower the mortgage rate to 6.625%.

Knowing my situation, if my wife and I were doing something like this, I'd be OK with buying something sooner and cheaper, but my wife would prefer to wait a little longer to save more to buy something nicer.