Need some help to decide. We have to move to a different town within Miami, I am currently renting 3,900. We also rented our own primary property (own 480K at 3.7% and can sell for 690K) which is negative cash flowing -$100 I also have to do the roof in 4 years which is an additional 40K. If I sell I will have around 160K. Not enough to buy where I am currently renting which such high interest and high property taxes. Should I sell and invest that money in multifamily somewhere else?

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When did you last live in that house? If you lived there in 2 of the last 5 years, I’d sell so you can take advantage of the homestead capital gains exclusion while you still have it.

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My rent in miami is 13k. 3900 is reasonable
Is the property still appreciating? any chance you can increase the rent?

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13k on D salary? Are you a Partner?

Lots of neighborhoods in Miami. Where do you work? If remote there are lots of places you could buy with that down payment and have manageable mortgage. If you hate commuting then location matters. 3900 is decent rent so I assume you live in a nice space. I tend to find anything more than a duplex/twin home in Miami aren't that nice. So what are you willing to live with?

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