I'm awesomeWork in Music Business full time at WME/IMG and am a licensed Real Estate AgentGot my license to purchase my second home, to turn my first home into a rental--which is currently worth over 2x what I paid for it and cash-flow it $1200/moLooking to purchase addl. rental properties a la BRRRR and other meanstrying to figure out if i should cash out to buy addl. properties, HELOC it to leverage addl. capital, etc.

(Non-beginner investors can do OK with condos on a short-term basis at the right point in the market cycle but care must be taken not to be without a chair when the music stops.)Third, in this particular case the #s are not only tight, by my calculations they'd actually put you into slightly negative cash flow.Using the same format as the original, my numbers are:Property:Purchase price: $95,000Down payment: $19,000Private $ down payment loan: $14,000Real down payment: $5,000Monthly income: $1,100Yearly income: $13,200Operating expenses using the "50% rule": ($6,600)this would include taxes, insurance and HOA feeYearly mortgage pmts (main mortgage): ($4,896)(76,000 loan for 30 years at 5%)Yearly private loan pmts: ($1,782)(14,000 loan for 10 years at 5%)Yearly free cash flow: ($78)For all the reasons above, I would recommend you continue saving until you have the entire down payment.

I go by Kirosakis mantra - you make money when you buy - not praying on market appreciation.Once the music stops in this game of real estate musical chairs and interest rates kick back on I may look at ontario again.

Do you hear Kumbaya music playing somewhere?

I wonder what you think about how loans to qualified rehabbers locally would fail such that I find myself standing when the music stops.

Obviously loud music, tv or alexa presentations should be included. 

People that believe multifamily can't fail will go the way of the house flippers for the last downturn when the musical chairs stop there will be a lot of losers in the space.

But I had one neighbor in the past tell me that since he wasn't trying to get me upset, it wasn't his problem if his loud music at midnight upset me (his lease was not renewed because he failed to "get it" after several warnings from the landlord).You try to avoid serving an eviction notice on a legal holiday (or the week with a legal holiday), but if that is the only choice available, you do what you have to do (legally) to be able to keep paying your bills.

I'm a music artist and producer.

So these speculators would buy in Phase I, ride the builder's manipulation to the top, and sell right before the final units were done in order to harvest some of the profit from the developer's manipulations.Then we had a Great Recession, the music stopped, and everyone left "standing" lost the game of musical chairs in a massive way.