Request for advice - analyzing my rental 2-family
Hi Everyone,
I am seeking advice on how to analyze my 2-family property that I bought in 2011. I originally lived there and then rented it when I left the area. After experiencing a serious damage via frozen pipes and insurance covered renovation - I feel like I need to figure out where I am with this rental and determine what to do with it. NO - PLEASE DO NOT SEND REQUESTS FOR PURCHASES.
I have documentation on 2011 mortgage, my schedule E tax returns since 2011, recent renovations in 2017, insurance covered renovations in 2018 and recent refinance that removed PMI and lowered rate by 0.25% (cashed out some to pay off credit cards).
So where do I start? Should I just some up expenses and incomes? How do I properly use investment calculator?
Happy to update and edit with information and real numbers. Thanks in advance.