The obvious downfall in my mind is that it's capped at 50k. 

It knee capped me financially.

You can get 70% - 75% of that 320k as a loan cap. 

Repeat this strategy every couple years.If you really don't want to buy a primary residence and instead you want to buy an investment property then I would recommend a new build in Casa Grande for under $300k, this will require a 25% down payment and buying the rate down a little to break even on cash flow, but will be a very easy first rental property as it will be brand new and will not require any cap ex for many years and by the time it does require cap ex you will have raised the rent and gained enough equity to do a cash out refinance.

Hello,Does anyone have insight into the current trailing (T12/T3) cap rate for 1980's multifamily property (100+ units) in DFW? 

- With talks of a cap on STR permits, I need to act fast.

This is an on market deal.Purchase price: $170,000Downpayment: 20% (34,000)PITI: $955Maint/Cap ex/Vac: $270Gross rent: $1800Cash flow: $1800-$1225=$575

Purchase price: $170,000Downpayment: 20% (34,000)PITI: $955Maint/Cap ex/Vac: $270Gross rent: $1800Cash flow: $1800-$1225=$575

Don't Refi - at the very least get a 2nd mortgage and keep your cashflow closer to 350 a month to have a buffer for repairs and cap ex.

The only way to make housing less expensive is either increase everyone's income (not going to happen), build more housing or allow fewer people in the country (assuming populations are increasing-they are in Canada).I've increased rents, but I have 3 rentals in areas with caps on rent increases and all of them are far below market value because of rent caps and long term tenants.