This is much lower than the costs associated with refinancing.Benefits of Mortgage RecastingLower Monthly Payments: The most immediate benefit is a reduced monthly payment, which can free up cash for other financial goals.Save on Interest: By reducing your principal balance, you’ll pay less interest over the life of the loan, potentially saving thousands of dollars.No Credit Check or Appraisal: Unlike refinancing, recasting doesn’t require a credit check, income verification, or home appraisal, making it a quicker and simpler process.Keep Your Current Interest Rate: If you have a favorable interest rate on your current loan, recasting allows you to maintain it while still lowering your payments.Drawbacks of Mortgage RecastingRequires a Lump Sum: Not everyone has the cash on hand to make a significant lump sum payment, which can make recasting inaccessible for some homeowners.Doesn’t Shorten Loan Term: While your monthly payments are lower, recasting doesn’t reduce the length of your loan.

At this stage in my life, these equity plays are more impactful than holding onto a property for a couple hundred dollars of monthly cash flow.What’s your take?

I am new to real estate investing and got into it because of the book The House Hacking Strategy.I live in San Diego; the rent is just crazy.

., so do you mean living in one state while a local PM manages a STR for you in the other state?

As for the areas to target, my goal in getting our feet wet as real estate investors--and since we plan to be living in Sac--is to find a property we can live in while renting out one or more units to help cover our housing expenses, which we can then hold and continue to rent out when we move.

Makes life way easier as tenants can't go complaining to you about it as its their own responsibility. 

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

Both my aunt and my mother’s husband have expressed their willingness to remove their names from the title, granting sole ownership to my mother.My mother is interested in transferring ownership of the property to me and allowing me to live there.

I work in Potomac, MD, and would like to buy a condo or apt that I can easily commute and live in, and then eventually rent out, and then buy another. 

I found an area I felt comfortable living in and I bought a house with an FHA loan.