*K&T wiring insulated with cambric and asbestos is not rated for moisture exposure. 

Interest rates atm seem quite high so will ride this out a bit longer (and ratios will continue to improve over time.) 

I assumed that shopping around for the best interest rate would be good enough.

In addition, all Rent payments hereunder not made within five (5) days of the due date shall bear interest at the rate of one and one-half percent (1-1/2%) per month"The monthly rent is $1550 so the late fee is easy - I've set the account to charge 5% if the rent isn't received within the 10 days stated ($77.50).

We had been in a fast appreciation and low interest rate market for years.

You will be able to get higher leverage, better rates, etc once you have more experience!

Rent's have continued to appreciate and when recently had vacancy upcoming I had it rented in 17 days, kid you not, weeks before exiting tenant was out making for a nice 0 vacancy rate. 

Success rate. 

That will be a determining factor for where it makes sense for you to purchase.Regarding waiting - bear in mind a lot of people were predicting rates in 2024 would be in 5% range or low 6s, which didn't turn out to be the case.

You will pay for the higher risk with higher rates and origination fees but if the deal makes sense then congrats.