Updated over 7 years ago on .
Long Island, NY Market
I work in NYC, currently live in Queens. Looking for a buy and hold multifamily in LI.(moving closer to friends and family). Nothing cash flows. I have been thinking about buying a 2 family, renting in one unit and living in the other in the short term. Problem is when I move out and rent both units it will not Cash Flow. If I lived there for 5 years, refi and then rent, it will cash flow. Is this a terrible idea?