Need help strategizing

[Erik Charen]

Hi, I am new to the forum and I am looking to start my journey in real estate investing. I would greatly appreciate any help to thinking about my situation that you can provide!

 I recently got a new job so my wife and I will be moving closer to Ann Arbor and I have enough saved to buy a new house without selling my current house. However, after analyzing my current house it would not cash flow positive using a long term Rental with my current mortgage. I bought my house over a year ago for 25% down, and my house has appreciated so I could potentially sell and recap my initial down payment after closing costs. I am thinking I could buy a house that makes sense for a rental (cash flow positive) and live in it as my primary residence for over a year and fix it up while living there, and meanwhile look for another property as my first rental. My goal is to build wealth in the long term. I don't have a ton of time to flip or take on huge projects so I'm interested in long term rentals. 
My questions are: what strategies make the most sense for me with my current situation? Is there a way that I can use my current property to make it cash flow without waiting for rates to come down?

Thank you!! 

[Drew Sygit]

@Erik Charen We manage two MTR's in Royal Oak, so would LOVE to debate with your agent about their OPINION!

Feel free to DM us if you want to discuss FACTS:)