Figuring out my next step
Hi BPters
I bought a main residence townhouse 15min outside Chicago for 160k couple years ago. I totally remodeled it (myself) new bathrooms, kitchen, windows, doors, flooring etc. Mortgage loan has 100k left. Current comps are 200-240k. Comp rents are $1300-1500. I only make about 40k yearly. My only debt is mortgage but my DTI ratio wont allow me to buy more property. As a primary residence for 2years I wouldnt pay sale taxes but I prefer to rent it. If I brrrr it wouldnt I loose the ability to sell it tax free? What would you do in this situation. TIA