Increase income, decrease DTI, and buy a home (i.e., get a higher paying job, work two jobs, go to trade school, get a higher paying degree, live in affordable area, etc...these are things that most of us did).

That said, weigh the cost of renovations against the potential increase in appraisal.

Looking for a house we could house hack, had an incredibly low interest rate on mortgage and house has increased in value about 42%, an estimated 180k in equity.

Hi Ethan, I would not entertain the idea of getting more money from this tenant in order to potentially increase your cash flow. 

I don't know if I'm getting much appreciation on a duplex unless the rents are significantly increased.

So your net earnings ( increase in wealth) is $650.  

The house is in Woodforest though so rentability might be lower as well increasing vacancy risk due to high rental costs. 

All this makes for great guest reviews and helps increase revenues. 

It would actually be a net PROFIT given the huge increase to tax revenues. 

And while short-term rentals are the big draw here, there’s also growing demand for mid-term rentals from snowbirds and traveling professionals, as well as long-term housing for the increasing number of permanent residents.Yes, higher interest rates are a factor, but the strong rental demand in the Panhandle often helps offset those costs.