Our portfolio currently cash flows, but cash flow isn’t our top priority right now since we plan to use this portfolio to supplement our retirement in 12 years when I leave the Army.My biggest challenge is committing to an out-of-state market.

Challenges?

With inflation driving up day-to-day expenses, saving enough to buy your first home is more of a challenge.

That property looks fantastic actually, I think sorting out the budget would be our biggest challenge.

Challenges?

BTW, I am not disputing you, just playing devil's advocate and wanting someone to challenge my thinking. 

@Hank Bank BRRRR is probably want you want to do.Buy, Renovate, Rent, Refi, Repeat.Before you go all in and either find out you don't like being a landlord or you make costly mistakes, start with just the next one.You'll have some challenges with tapping the equity in the townhouse:1) What loan amount can you qualify with your credit & income?

Challenges?

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I wholeheartedly believe in the end you will come out ahead, but you must be prepared to weather potential storms with the strain of limited to no cash flow, which can be challenging.