Since purchasing the home, housing market in my area has declined about 20%.

@Jonathan Bombaci recommend using that amount as a bargaining chip for lower rates.80% of evictions are wash, rinse, repeat. 

Flexibility in Loan Terms: Josh offered a unique hybrid product that let my friend lock in a portion at a fixed rate while leaving the rest variable.

I've been considering house hacking in NJ.

We have record employment, all of our retail is booming, housing is still selling.

Just got the second house in my current partnership!  

When we create our business plan, we also include our exit plan.We'll only proceed if we can clean this up, acquire new tenants at higher rents so we can increase our NOI, which in turn should reflect our cap rate and profits.Since this asset class is new to us we will tread cautiously.Scheduled to preview tomorrow. 

Quote from @John Friendas: There's a house I'm considering buying with a business partner as an investment rental.

That being said, with interest rates being higher now, I may not be able to find a turnkey property that makes financial sense.  

@Joe Villeneuve around 300K of equity in the houseSell the house, take the equity, spend it or use it on your next house where you are moving to.