We're new to real estate and would appreciate advice on our current home in Texas and our future place in Oregon.We love our house in Austin and aren't ready to sell, but as a long-term rental, it would yield (from what I understand) negative cash flow, covering principal and interest but not taxes and insurance.

. - exterior "usable square footage" (think covered patio, pergolas).- extra storage space so tenants don't feel the need to squeeze their entire lives into one room (extra garage space, attic, detached shed)- room for 2 full refrigerators!

You may find this a viable option with rates where they are, especially if your rental income continues to cover the mortgage.Home Equity Line of Credit (HELOC): If your property qualifies, you could use a HELOC to access the equity without disturbing the current mortgage.

The HOA covers all the exterior.What was the outcome?

You are LOSING money because you didn't even raise rents to cover those increases!

The building tradesmen are busy too, but I just called ABC and got the name of a guy who buys alot of bitumen roofing so as to get a quote on a leaky patio cover, got a guy to bid cement board skirting on a stick house by calling Palm Harbor mfgr home sales center, got a card from a guy working across the street doing drywall repair and put it in my phone.

As long as the rents can cover both the current PITI and proposed P&I payment, credit is at least 680. you should be able to qualify. 

We have been told that fha will not cover this since there’s are two residences on the property.

If all your concerns are covered, do the numbers still make sense or should I see something else?

Flood insurance is expensive and will be more expensive in the future, as they try to raise premiums to cover the claims.