Bought a house in Bay Area at less than 3 percent interest rate with 10/1 ARM. Huge mistake I know to not get the 30 year fixed. The gap to keep the house on rent that includes tax on rental income plus mortgage and maintenance is 3k per month. Looking for advice on what shall I do? Planning to buy a bigger house.
Unless you're planning on renting forever, I would highly consider selling. Most underestimate the cost it takes to restore a rental property to selling condition. It's also important to minimize risk in your investments. Move on and enjoy your bigger house.
121 exclusion pretty nice .... And with rates high could be helpful to offset the new purchase.