Equity advice from selling house
Hello I recently sold my house and got back $70,000 in equity. I found a cute little house for $87,000 I'm going to get a loan on for 15 years with a down payment of 17,000. I will live there a year then rent out.
That will still leave me with $50,000 roughly to invest in something.
Should I leave for a down payment in a year when I house hack this house I plan on renting out. Or should I buy a cheap 40 to $50,000 house here in my town outright in fair condition and I could rent out for at least 750 a month?