Renting out your house in this market?
We tried two years ago and had a bunch of showings but no offers. Then the year after we went with a different company at a lower price and didn't get many showings at all.
I was wondering if anyone had any experience just renting out their home.
We own about 25% of this house. We would like to buy a bigger house. We could do this without the equity in our current home.
I wonder how long you have to rent it out to consider it income? how long you have to rent it out to consider it a rental. How do banks and underrwriting look at this situation?
We have a family member I trust that is willing to rent it out and eventually purchase it when they have a large enough down payment.