My bank told me last week they will loan on storage units with only projected numbers as soon as the last bolt is tightened, and that that appraisal would be in the ballpark of between 400-500, so you don’t even have to let it season before equatizing it, so could be done in less than 5 years if you moved quick enough.

Also, lending requirements tend to tighten in a downturn so it may be harder to qualify for a loan in that environment.

That gets really difficult and strains/breaks many partnerships.

We are seeing less property walks and tighten offer.

I’ve been BRRRR since 2012 and have always refinanced out only what I have in thinking that the extra cushion will help when banks tighten during downturn and prices drop.

In DFW we saw 4 or 5 years of very good solid appreciation and lots of profitable flipping but now things have really tightened up.

The Fed has been reducing the size of it's balance sheet (QT or quantitative tightening) since 2017. 

I can tell you in the last economic down turn I saw banks reduce or freeze Helocs all together so people's credit lines dried up whereas the refi you have already taken the money out.It all depends on how fast you think you will use the money and pay it off before a down turn happens and banks change or tighten their various types of loan programs.No legal advice given.

One tenant had a loose doorknob, called about it, told him to tighten the screws, and his answer was "I don't own any screwdrivers because I never did repairs".

Managing any more than a handful of units on my own would be a huge strain on my already non-existent free-time, so I see myself switching to using property management on my second or third property.