Need Some Guidance...Possible First Time Investor
Hello BP!
First off, thanks for all of the great advice, it is a wonderful community filled with smart people. My wife and I have been going back and forth on the duplex we currently live in. Our landlord has offered us to buy both side of the property and we would occupy one side. Using a FHA loan would our main option right now but I don't know if we would be making enough on it per month considering the high asking price from our landlord (probably $300ishk for both sides but hopefully less). Rent is $1200 from the other side and that will remain occupied. We currently pay $1200 for rent so we would be living "cheaper" and hope to move in the next 2-3 years into another house and have this as our rental property. Is this a normal thing to even consider since we aren't technically turning a profit? I'm not even sure where to start. Any and all advice is welcome!
Thanks in advance.