You could just move out and rent the entire property.

This strategic move paid off handsomely as we were able to command higher rents than initially projected.Here are the key financial details of the deal:Purchase Price: $270,000 (jointly with a partner)Financing: Obtained a commercial bank loan with a 30% down payment, 7% interest rate, and a 20-year amortization period.Initial Rents: $1050 and $1250Current Rents: $1400 and pre-leasing for $1500 (making it a 1% rule deal!)

(Which also cost more than you think now.)If you have 8-10% of the property’s cost try to buy it as a primary with 3.5% down and move in while you rehab it.

My plan is to pay for the lot mostly in cash, build a quadplex on it, sell my current rental property and primary residence, and move into one of the units.

I am planning to get a cashout refi, which I believe I need to move it solely into my name first, but there is also a prepayment penalty attached to the loan for the first 3 years.

I feel these would make an excellent next move for me.

Nobody moves them anyway.

First property when moving away from parents home.

Rented the house 2 years, had a dispute with one neighbor and is now moving out.

Move in ready $450k+ at this price you’ll find new construction and renovated duplexes those tend to sell quickly when the numbers makes sense and the ones sitting on the market the rent does not cover a big % of the mortgage.2.