Home equity is 6-7% depending on length 5yrs vs 15yrs a 30 yr mortgage is 6%...Ideally rental stays rented out bringing in 1/2 of mortgage payment on new house based on numbers and is already cash flow positive bring in $1200/month (worth about 180k)and new property is going for 240k going rental price is about $2,000/month but I owe 18k still on private mortgage- reason I want to pay it off (4% flat 720 interest from cc for 1 year) to have it 100% paid off, then use home equity to pay off....or try to balance transfer balance after 1 yr which ever is lower but I figured that would mess with debt to income ratio and with this property being brand new, which is hard to find being located outside of closest major city...goal is to keep house rented out till it's paid off while also being cash flow positive with both properties combined and using paid off/ nearly paid off 1 to pay for 2nd rental, so I'd say lowest debt while also building wealth/equity not worried about a monthly/yearly profit per say as long as someone else is paying down the mortgage ie: my current property is bringing in $1200/month but current market value says it should bring in atleast $1500-$1600 but the tenant is phenomenal so she's paid same rent since 2017 I've put about 36k into between mortgage payments for 2 years and some up keep...she's put in the other 130k!!

We planned to sell, but our agent gave us another option - he had a husband and wife who didn't have the credit to purchase and would we consider renting.

You'll also want to know what the terms of the lease you are inheriting is and decide if you are OK with that.And sometimes, it is good to just walk away and put your effort into another deal that might make you as much money for less effort.I have been looking for buy and hold investors who rent homes in the area to see if they are interested.

No I’m not sure what took you down that road but just as stated they would stay at a property you own that’s for rent maybe that explains it better  

It's easy enough for me to use myself and has a lot of other features that help me manage my rental portfolio and take more of the day-to-day management in house, like vetting tenants, collecting security deposits and rents and its other banking features.

I'm not familiar with Indiana law specifically but in Colorado where I am the security deposit is the security deposit and is not paid per person unless you're renting by the room, but if both tenants signed a joint lease a full security deposit should be yours until the end of the lease and it's up to them to handle amongst themselves

Additionally, I would appreciate community insights on renting out properties that aren't condos or co-ops in this area, as well as the market value.Thank you,Manon

The tenant owes 3 months of rent, unpaid utilities, and trashed my 2022 built condo and left several days before the sheriff had to break into the condo as no keys or forwarding address was left by the tenant. 

My answer assumes that it used to be your residence for at least 2 years after which you rented it for 2 years and never moved back in before selling it.

I want to raise the rent for each unit.