Sell or hold my house hack
Currently house hacking. Purchased a duplex. Renting one unit for $2,800 and living in the other. The difference between my rental and mortgage is shy of $800 (including PMI). I plan on living here for two years. I'm on the fence on whether i should hold or sell. When i leave the unit i can rent it for $1600-1800.
Let’s say i get $1,700 for the one unit and $2,800 for the other. Puts me at $4,500 income, minus mortgage $3,600. Leaves me with $900.
I understand it’s not an ideal but while house hacking I’m paying $800 versus renting at $1600-1800.
For the time being i know it’s worth it, should i hold onto it even with such little remaining? Technically wouldn’t cash flow if calculated with expanses, maintenance, PM and C.E.
If i refi out of the FHA, I'll save an addition $300 which would help some but I'm quite a bit always from hitting 20%.
Relevant info - purchase price 480k, rehab 35k, ARV 550k i understand spread isn't great but better than nothing.
Thanks for input !