Another rental is in a great area but has struggled recently due to increased competition from newly built apartment complexes.

I’d recommend looking for properties that already have stable tenants or need minor updates to increase rents down the line.

The entire lots level has to be increased.

Overall nationwide cap rates are rising because of interest rate increases.

It's usually better to earn $200 less a month for one year than to sit vacant for two months, particularly in the winter.Consider a bigger drop for a 6-month lease to get through winter, then increase rent or find a new renter in the spring when competition is hotter.

Personally I’d do a 1031 to save $40k, I’d skip the LLC, increase the limit on my umbrella, and call it a day.

•If you can, raise rents or find ways to increase the property’s income before applying again.Have you already tried talking to multiple banks, or is this feedback from just one?

Building a sport court will run like $30 grand, but would increase your rental value. a 6bedroom 4 bath house with a sport court, hot tub, fire pit, mini golf, arcade etc. will most likely crush it because it's cool.

It was a significant milestone and ignited a newfound confidence in my abilities as an investor.

It sets you up for a more focused, confident, and sustainable start.