What would be the next step?

[Michael Win]

Hi BP,

I am closing on a million dollar property with 12 renters this week with 200k down.  I should be able to get 50K a years  in Free cash flow.  I think its a good deal and hopefully in 2 yrs, all rent rates will be raised, and I could get 75k/yr in FCF.

I do not need any of this cash as my job is stable and provides me with a great living.

Where would you go next?

1 Use the FCF to pay down my 30 yr note?  If I did this, I could have the property paid off in 10 yrs

2. Use FCF to buy more rentals?

3. Finance someone's flip?  Let someone else do the work and just be an angel investor?

4. Any other ideas?

My current idea would be to use the cash flow to buy more rentals. Maybe leverage 2 more per year and have about 25 rentals in 5 yrs? If I have equity in 5 yrs, maybe do a 1031 into a larger complex or bunch of SFH/Multi family homes?

If I have 700K equity in 5 yrs, why not use this as down payment (30%) on a 2.5 mil project?  If the deal is right, I could retire on the income.