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I came up with an interesting concept that I have found very little information on. I own my place, and while I am not underwater, I have little equity in it. I need (want) to move closer to my new job. I am considering keeping my current home and renting that out and looking for something near work that I could rent for myself. This way I still have the tax benefits of home ownership but have the freedom to move. I know some lenders want to see that a property has successfully been rented for 1-2 years before including that in your income, so it would give me a chance to build landlord experience while I save for a downpayment on a second place.Has anyone ever done this? It seems like a strange concept but it somehow makes sense in my head!Thanks.
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