Hi, My wife and I purchased a two family in NJ almost a year ago but realize a 1 family would have been a better choice. We have $100K equity in this house. We are not sure whether to sell it or rent out both sides. We know we definitely want to move. If we sell the rental and move out there will be capital gains tax, but we have dealth with that befor. If we keep the rentals (both sides) we'll always have a headache hanging over our heads. Any ideas? Workingboy (Central NJ)

Why not just use a property management company to run it for you,they usually only take 10 percent of the monthly rental,plus the rental agreement might be better than the one you have now.

It is not that we dont like being landlords. It is that are taxes have jumped up $800 last year and we really dont like the area now that we live here. Plus, it appears that the school system here doesnt appear to be as good as some people have said it was. What is the housing market like for two-families in NJ? Does it run on the same curve as residential? If so, maybe it would be wiser to hold onto it until the market swings back around. Plus, we need to find a good financial person who knows how to handle two-family mortgages. Maybe we could refinance this into a low interest loan for a short-time to pull out all of the money to apply to our primary house. We just dont know what to do.