I bought my home (single family) about 2 years ago (at the real estate peak). I regret not buying a multi family property (duplex) as my current mortgage situation prevents me from saving any $$$.

I can put together about $12,000 if need be. I am very bearish on the economy and I am expecting home prices to tank even further than they already have.

My dilemma is that I don't know whether to:

1. Sell now, suck up any loss & get into a multi fam immediatly.
2. Sell now, rent for a while & buy when prices really tank

If I sacrifice my accumulated savings ($12,000) as DP on a multi-fam I could make that back in 18 months with rental income halfing my payment.

What to do ?

thought about renting the SFH out?

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I have, but I would be at least -200 every month if I went that route. mortgage = 1500 and I could probably rent it out for 1300 only.

now the cost of the house is not only mortgage but there are taxes as well, ever thought to put an income suite in the house, not sure it has the space, or things which would up the rent?

12000 is not much as a downpayment espeially for a multifamily but it depends, Detroit etc may be a chance

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Yeah.. the 1500 figure is tax included. When I bought this house I only put 5% down which is about 8500 + closing costs it came out to around 12,000. It was an FHA loan.