Refinance after addition? Possible rent wouldn't cover mortgage
Starting out in REI, (wanting to househack soon, and buy a duplex). I bought a single family last year and wanted to rent out. However, rents are low in my area, and wouldn't cover my current mortgage. Hence I need to decrease my mortgage payment and or get more possible rent, or possibly sell. Hence, I'm considering adding on a bedroom and bath and refinancing, (also I could add a small bedroom in the basement for 1/4 cost of addition, probably more aligned with making a rental). Make sense? Should I just sell as is? Refinance now and save on mortgage payments asap?