Want to sell my house and buy another

[Alyssa Marquez]

BP fam what are your thoughts on my scenario -- 

I bought my primary home for $335k 2 years ago and have put about 40k in upgrades (new double paned windows, new foundation, new metal roof, rain gutters). I am an agent, I know this area well and I will not get the price I want to break even which is about 375k. I lived alone till January this year and have had a roommate paying around 700/month which has helped me with mortgage. My property is in the middle of downtown San Antonio, 3 bed/1 bath. I just listed it up on airbnb and have had 5 requests to book already - given 3 were for last weekend and I was not prepared for that, so denied all of them and set a 7 day advance notice. LOL. I already got a booking for April of next year and just received another request for two weeks from now.  Putting it as a long term rental will not give me any cashflow, I can probably rent it out for $1500 max and my mortgage payment is around $2381/month. 

The reason I want to sell is there is a property on the market I am absolutely in love with and wouldn't need to upgrade a single thing. I can take advantage of it being a buyers market and use my FHA LOAN to ask for a full 6% seller concession on top of my 3% agent commissions essentially allowing me to walk into the property with $0 out of pocket. I should probably buy a MF property but there isn't many options where i wouldn't need to invest more $ into to do upgrades. I travel 1-2 weeks out of every month so at this property i want i can have two roommates anyway to help cover the mortgage. I want to make a smart decision and take advantage of the market conditions. Please share any critiques, feedback/opinions.