UNTIL YOU SELL THE PROPERTY... then the cap goes away and you are taxed on the fair market value of the house which is usually the new sales price less maybe 15%.  

It would be a good idea to assess your tolerance to risk and then plan something like that, but using a heloc is going to be around 9-11% in this market so to pay something off with lower interest rate to borrow more might not make much sense.

(You said you could purchase them $20-$15,000 below market value. 

Now the property has been sitting on the market for months.

Who is familiar with the market trends and can share with me some insights?

I personally have been an investor in Chattanooga since 2021 and the market has shown tremendous growth and strength, and I'm super optimistic for the future.

I’m planning to move what I have in stock market ($2.5-3Mil) to buy a good realestate.

You have many people who say midwest markets are now appreciation markets, but I disagree with that statement.

Nonetheless, you can base the DSCR calculation on PadSplit rent (if there's a history of PadSplit income being produced) or short-mid-term market rent (an analysis done at the same time of appraisal).

The financing will then dictate which markets are and aren't within your budget.