Thinking about selling my single house. It’s not paid for. But my thinking is I’ll make better cash flow with a duplex with 2 tenants than just one.
why not buy both?
use your equity as collateral toward the purchase of the duplex?
As long as the first one is cash flowing, it is going to help make payments on the second one. you will be out commissions and closing cost on both the sell and the buy.
That's one option,
look at a possible 1031 exchange ?? with some one.
I am sure there are a lot of "professionals" on here that will give you a
lot of options.
@Tim Pritchett , The decision to sell or refi is going to depend on what you think of the current rental, how it's performing and how it will perform if you change the financing.
If the best decision is to sell then a 1031 exchange would allow you to sell it and reposition into any other kind of investment real estate and by following the process defer indefinitely any tax on the gain or depreciation recapture. @Ray Fisher is right it's something to look at.