Currently renting for ~ $1500/mo in a low COL city. My lease ends in Dec and am looking to purchase a property and get into rental game. I have $40K in bank, but I’m not sure what my max investment should be or will be approved for. Would it be feasible to keep renting and also try to rent out a purchased rental property given my liquid cash?

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Look for a duplex where you can live on one side and rent the other.
Also, Bank of America offers low down payment/no PMI loans if you qualify.

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It’s my goal too. Duplexes are hard to find in my city.

Why not buy a place and then rent out the other rooms while still living there? Then once you’ve built saving back up buy your own spot and rent out the old place?

Yes definitely an option, but most people at least I’d WANT to live with have places so I’d most likely have to find strangers. So not 100% ideal and if the feasibility of having both is an option, I’d take it

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