House hacking a different way?
Hello! I inherited a duplex. Current piti is $780 a month. I was thinking of buying a house for myself which the piti would be around $1133 for a combined total $1913 for both properties. The duplex will rent for approximately $2150, so essentially I'd cash flow $237 and live for free a month. This would not be taking into account maintenance, vacancy or taxes on the profit.
Is there anything that I may be missing in this equation?
Do you think this is a good idea? Why or why not? If not, what would you recommend. I'm not looking to acquire a large portfolio and leverage myself drastically.
Thanks!