u/Dejanerated

We own a very humble home with a 250k mortgage left on it.

We’re looking to purchase a 2nd home and rent out our current home at a fair and reasonable price.

We have roughly 320K saved in various accounts.

Would you suggest we pay off our current home and start saving for our 2nd home and look to buy in 4 years, or purchase the 2nd home and carry 2 mortgages?

HHI is 200K before taxes and we have no help from family.

We have a 2 year old child and are hoping for a 2nd child soon.