Pros and Cons for buying a rental in 6 months or

[Deleted]

waiting a 1 year and 6 months and buying a owner occupied duplex and renting out the current duplex.

Pro for buying a rental in 6 months vs waiting
-start getting income sooner
-want it now
-rates may increase
-have to pay moving cost if I buy owner occupied

Cons for buying a rental in 6 months vs waiting
-requires a larger down payment vs waiting
-higher rate than owner occupied
-would have a full EF if I waited, would be short about $5000 if I bought in 6 months

What else am I missing? And what would you do?

[Deleted]

"have to pay moving cost if I buy owner occupied"

What does that mean?

Are you the poster that will be moving soon for your DH's schooling?

[Deleted]

If we bought owner occupied we would have to move. Moving costs money for movers or renting a truck/pizza and beer for friends to help with the move. I am not sure if I am the one you are thinking of but yes, DH and I will be moving in the next 3-5 years, 3 years if I do not get into grad school, if I do get in he will move at 3 years and I will stay for 2 more years.

[Deleted]

So are you considering buying a rental in the same area as your other rental? Is there a possiblility that you might want to buy in the new area?

[Deleted]

We may end up buying in the new area as well but we know we want to keep the current place as a rental and therefore if we can find another good deal in this area we would like to take it. We will be coming back to this area at least one a year probably more often.