From recent history, mortgage rates historically are low even today, compared to the past.

Another tip: use Rentometer and RentCast to double-check your rental rates; they’re great for comparing rents in your area and making sure you're priced right.

@Joseph Henry So often I see replies of people answering the question of what they would do as compared to what you should do.

Look at the data from multifamily starts for this year: 2024 YTD shows 193,000 more units COMPLETED compared to those STARTED. 

Meanwhile, you could be locked-in to a purchase price that is 5-10% below comparable sales by the time this finally closes (Q2-Q3 2025).All the best!

@William CoetLook at what a property was worth in major cities back in 1990 compared to today and then use the same for properties in landlord friendlier states.

Rents are strong compared to price points and its not hard to find good tenants.  

Consider maybe doing a HELOC instead if you're looking for other deals to buy - this will let you keep the house and the current very low interest rate compared to today's rates but also free up working capital to apply elsewhere.

Comparing Equity with debt is kind of apples vs. oranges. 

The property prices are lower compared to other markets, and the rental demand in certain neighborhoods can be pretty strong.Let me know if you want to know anything!