Looking to buy first home, thinking about a duplex.
Hi everyone,
My wife and I are looking to purchase our own home and looking into real estate investment. I'll be to first to admit I have a lot more learning to do on this topic, but would like to make moves. We are looking to purchase our own home, but we were thinking about purchasing a duplex to live on one side, and to rent out the other. Could this potentially be a good investment? My wife and I both work full time jobs and would be able to afford the mortgage if we have no renter. My wife also has a student loan, would it be a good idea to consolidate that loan into the duplex?
Should we create an LLC first before purchasing the duplex just in case the renter gets hurt and wants to sue?
Thank you all!