Good idea?

Let me know if you need more ideas, I'd be happy to connect! 

In the next 2 years, I'll be looking to purchase a MFR to househack. with the idea of reinvesting all of the cashflow to help scale.

When we moved, we turned it into a rental, hoping this would be the start of our real estate journey—something we’d like to continue once my husband retires.Some key details:My husband is active duty and will retire in 3 years.We have one final move coming up this summer to Raleigh, NC.Our current debts are crippling us—the high interest makes it tough to stay afloat every month.The plan me and my husband are thinking bout:Sell the rental property.Use the proceeds to pay off all our debts, set aside emergency funds and a down payment for our next home.Free up $1,500/month from debt payments, and that also can stash in a high-yield savings account.Regain full VA loan entitlement, allowing us to purchase a multifamily home and use the house hacking strategy for up coming move.Avoid capital gains tax, since April marks five years of ownership, and the tenant’s lease ends in May.This wasn’t our original plan, and we hate the idea of using our equity to pay off debt.

I hate the idea of losing over $60k (took HELOC from my paid-off primary) in which I'm paying for each month, but I'm terrified of all these expenses completely draining me.

Depending on what your goals are a line of credit might be a good idea to give you access to quick cash for another acquisition  Thanks, Michael,I've protested taxes and I'm considering a cash out refi for another property.

I understand the idea behind buying something new to me then renting out my current home.

If you ever have questions or are looking to bounce ideas off another local investor let me know. 

I’d love to hear more about your goals and where you see yourself starting in the investment space.Looking forward to connecting and sharing insights as you grow your expertise—don’t hesitate to reach out if you ever want to chat or bounce ideas around!

Know your desired market and how much capital you have or are willing to use, and that should give you at least an idea on what your buy box might be.