Until then, I am keeping these on 30 year notes ranging from 3.75% to 4.125% and make the minimum payment each monthThey cash on cash around 8-9% for the newer homes and around 12-14% for the older homes.I am not planning to add any new houses to my portfolio in the next couple of years while I build up my powder again. 

If I were you I would keep my powder dry and find an equity partner for a good deal to cover the difference of what the lender will pay, split profits with him, and use that $20k for appraisals & closing costs.

Great skiing nearby at Powder Mountain and Snow Basin if that's your thing.

So I should go into capital preservation mode and have dry powder for buying opportunities.

As portfolios rise into the dozens+, most I know just have an amount of reserves like 30-50k not including dry powder. 

To be sure, there will be a lot of opportunities within this to those with dry powder, but people are going to go through a LOT of pain and suffering.

This powder kills fleas and is perfectly safe for humans, (unlike chemicals).

I'm not convinced I can swing it, but I'm keeping my powder dry.Best wishes to all who lent their support and hard-earned insight and experience--Adam

My wife and I just bought our first STR in Powder Horn Mountain neighborhood in Deep Gap, NC outside of Boone, NC. 

Even better if the bump-out had a powder room too.