Here’s a quick breakdown of your options:Option 1: Sell and Buy Cheaper House with CashPros: No mortgage, no interest payments.Cons: Older homes, more repairs, possibly worse neighborhoods.Option 2:Use Proceeds as Down Payment on Better HousePros: Newer, fewer repairs, better neighborhoods.Cons: High mortgage interest rates, higher monthly payments.Option 3: Refinance and Rent Out Mobile HomePros: Rental income, keep property, can still buy another home.Cons:Landlord responsibilities, high refinance interest rates, market fluctuations.Consider market trends, rental demand, and your financial goals.

The expected rent is 1,600/ month.  

My total gross revenue is averaging $10k a month.

Property DetailsAddress: 1360 Meadowood Dr, Hixson, TN 37343Type: Single-Family HomeYear Built: 1971Size: 1,008 sqft + full unfinished basementLot Size: 0.27 acresCurrent Condition: Not updated since 1994Roof: New, installed 4 months agoParking: Attached Garage3.

Im a Realtor too so I just pulled in the driveway and talked directly to the owner and it took a few months but I was able to keep in contact and work out a deal.I learned A LOT about the importance of vetting any professional/contractor (and verifying any proof they provide) before they start any work.

If I flip a house and make a profit after 6 months, then buy a new property 3 months later, what taxes will I be obligated to pay?

I put a link from Rentredi if anyone is interested to look.My screening criteria is 3x monthly income, Credit Score >600, no Felonies, and I have really be on the fence pets or no pets depending on size etc I need help with the tenant selection1.

@Shane BoyleIn 12-24 months you’ll be older, whether you invest or not.

My Stats750 credit scoreI have 5,900 available to me in personal creditBecause of my low level of personal credit, my program will be 18 months instead of 12 with the first 6 months being dedicated to increasing my personal credit to 20k so I can become eligible for a business line of credit.If you have been thinking about joining Fund&Grow or are looking for creative financing please PM me.

Most commonly, I see that clients can do a rate and term refinance after 30-days of ownership but most people wait 6 months to be eligible to do a cash-out refinance.