@Catherine Brennan what city did you buy in? I

I have wanted to do this for years and finally feel like I am in a place where it makes sense to jump in. I

I saw a listing for a 15-unit apartment building that is for sale and the property has a 5.3 cap rate, this isn't the issue.The issue is in the listing description the agent said the building could have rent growth potential based on the rising rent prices in the area which she said would bring the property to a 6.6 capNow my question is why would I buy a property for 2.5 million when with this new expected cap rate the property would tank to just under 2 millionNOI is roughly 132,000 and most units are in pretty good shapeAnother note is the average cap rate in the area the property is located in is a 6.4 cap

It seems the only affordable option I have is to find a SFH mother daughter which don’t come up very often and rent a portion out while I live in. I

Hey Ryan,To clarify a bit, the stage I currently find myself in is more centered around research and understanding the market in DFW.

But, that's why I like my debt/income investing.When the rmd does kick in, I agree its next to impossible to keep up with the 1/x distribution. 

The market I’m in is great for renters (but the quality of renters can make you pay attention to their applications)  I’m rehabbing the 3rd house now, plan to remodel the 2nd house after I’m complete and then unsure if I should:-obtain traditional mortgage then should I cash out refi and find more property?

Raising opm makes sense but you need to have a product / investment someone would want to invest in Is that deal Better than what the competition offers?

Quote from @Hari Mann: It surely is a small and mysterious world. 

This was the situation the first property we bought was in- I assume these guys were buying for appreciation, or maybe borrowed against the house to fund another investment house, then the bottom dropped out of the market...