We are upside down on our primary residence mortgage by ~15k and it’s a more expensive home than we should be in. We also own a SF rental with probably $50k equity, a fixed-low-rate loan, positive pre-tax cash flow of about $200/mo and exceptional rental history. Should we consider selling the rental to be able to “afford” selling the primary and have some leftover to start re-saving for a next (more reasonable) primary residence?
I hate to give up the rental because it’s more than paying for itself. But I feel like we’ll just be treading water until we can get out from under our primary residence mortgage(s).