With a purchase price of $250k, your rent is WAY too low!

Quote from @Paul Whitehurst: Many will tell you to borrow money from Property A to purchase Property B, but that's known as over-leveraging and not recommended for a newer investor.

Purchase price: $252,000 Cash invested: $63,600First buy and hold.

Unless it is a new build, and it comes with purchase warranties are an extra cost and may or may not even be executed when needed depending on the circumstances. 

In short: $4.25M Purchase Price. 15% down. 3.25% with seven years remaining. 

In my area specifically most investment type property listings are properties that were purchased 1 to 2 years ago.

Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I plan on moving forward with purchasing my first property and starting a portfolio locally -before the year is over..

Curious thoughts on the following scenario.Current SFR with $51k loan at 8.125%, just purchased with around 10% built-in equity on the property, $250 monthly cashflow (post expenses).

I guess the idea is to use the equity from one property to purchase the second property, and so on.