Quote from @Jason Dumbaugh: Hello all,Looking for some sell-or-rent advice.  

That is sound advice.

Readers are advised to seek professional advice If you have more than one property rehab going on at the same time, how does irs/lender/investor know which expense goes with what property?

." - So we authorize the work.Contractor submits the quote yesterday for $8k and is threatening me about it. 

Your advice and insights would be invaluable.

Originally posted by @Ray Hernandez:@Will Barnard Thank you for your honest advice!

Thanks so much for the great advice and information! 

Besides my current rent, I still have to pay an additional $1~2000 for the mortgage, etc.Pros:Better financing rates than for investment propertiescan manage it myself to save the PM feehaving my own place without worrying about rent increasesCons:May only afford a small townhome or apartment, not sure if I still want to live there after 5 yearOption 2: Investing in Out-of-State Multifamily PropertiesI could use my cash to invest in several multifamily properties out of state and use the cash flow to cover my rent.Pros:Potential to spread risk across multiple propertiesThe cashflow can cover my rent, maybe have extra leftCons:Additional costs for property managementLimited potential for appreciationHave no experience in managing OOS property, and I am afraid it will be annoyingI’d love to hear your thoughts or any advice you might have.

But, that is not always the right answer and you should speak with someone familiar with your personal situation to get advice specific to you.

Any advice, or even connections anyone may have would be much appreciated.