How long do you plan to continue living in that property?

If I continue to charge $500 month, that's $6,000/year, If half of that went for maintenance, it's still $3,000/year.

I expect that the Fed will drop rates next week and will continue to do so.

Find another place to rent and continue saving

So purchasing larger and larger properties allows investors like Benjamin to purchase more depreciable basis while continuing to defer and recapture.  

I am going to continue educating my self while I get enough for the DP and other expenses.

You have given me some good info as we continue figuring out our next steps.

If you catch these at the pre-foreclosure stage as slow pays or initially in default all the better as the bank has less in collection expense.You can still work out a discount but even buying at the payoff it can be profitable depending on the property value.You can practically force a lender to sell as it can fully indemnify them as a full payoff as demanded, continuing with a foreclosure becomes a rather vengeful act by the bank to punish a borrower, they don't want to go there.

I do not see any of those scenarios as likely and therefore see poor/negative cash flow at max LTV refi continuing for some time.  

Investing in your education through reputable sources, even if you don’t go for high-priced mentorships, can lead to better long-term success in the real estate market.Engaging with local real estate investment groups or seeking out affordable continuing education programs can be great starting points.The road to success does not have a shortcut....