Using former primary residence as a rental
To keep a long story short the wife and I bought a new house and our old house is in a very cold market and it would sit on the market for a while. So, we decided to rent it out and we got just enough rent to cover the mortgage and that number is market for the area maybe a bit over market. The mortgage payment is 899 and the rent I am getting is 900 a month.
My current mortgage has 12 years left and I have about 25K of equity. What advice do you have to get this property to cash flow?