Thank you for the response, Cwadda. So, if we don't rent our house out, we can sell it or stay in it. If we stay in it, we have more $ to invest in rental property. If we sell it, we could buy a new house and invest in a rental property, but would have less $ to do this.
If we can sell @ 400k, and pay 4.5% commission (our broker charges 1.5% for the sell), we would be looking at $135k after paying off our mortgage (owe $247K). Excluding additional fees/costs.
Do you have a certain price range you would suggest for rental properties?
Obviously I'm a novice and have taken note of the suggested books on this forum for my next trip to the library, but it's very helpful to get input that's more personalized.
Thanks!