Normal mortgage rates are in the high 6's now, for a personal residence, and higher for an investment property. 

The trade-off is higher interest rates and points.

That does not change if your rent is $600/mo or $1500/mo.  

Unfortunately, given current and foreseeable prices and interest rates, I will not be in the position to buy anything else anywhere I’d want to go. 

It's probably going to mean paying points at closing, a high rate, and a serious pre-payment penalty (like 5 years). 

With mortgage rates close to 7% and generally soft homebuying sentiment, strength in existing home sales is unlikely to be sustained," said Alice Zheng, an economist at Citigroup.

Our area has a good selection of hard money lenders, and every now and then, you might find an owner willing to carry the loan, often at attractive rates.

Here’s the situation:Purchase Price: $540,000Down Payment: 20%Mortgage Rate: 7.125% (30-year fixed)Monthly Expenses (Mortgage, HOA, Taxes, Insurance): $3,706Realistic Max Rent: $3,000As you can see, I’m currently short $706/month even with max rent.

I have heard good things about Ohio, Indiana, etc.5 - Due to high interest rates flipping has become highly risky and most businesses have dried up.6 - Co-living and Assisted living seems to be popular right now.So - really depends on your market, your strategy, and your timeline.

Mainly because many seconds the rate on the note is a few points higher so greed takes over with no real understanding of the risk..