I have very low bills though, so I could save $12k in about a year.All the MHs I looked at were in parks.

Low down payment with potential for huge rent increase year over year making house hacking very advantageous in New Jersey.

We are looking into houses on the lower end of the scale at first to get started for a "low risk" (we could pay mortgage out of pocket no problem even if property is vacant for 30 years) house that will give us the experience we need as rental home landlords - and I am looking down the road at potential investment ideas to keep this thing rolling.

If you already have a super low rate a cash-out ReFi doesn't help. 

As any savvy business person knows, when demand is low, prices should be low.

I have a good amount in savings, and as a first-time homebuyer, I believe I can lock in a low interest rate.

If you choose an area or decide to work with people who will take up more time due to the low cost of entry, you may end up paying more in the long run. 

If you're scared to take the leap to get your first property, I'd advise making your first deal as low risk as possible. 

@Lucas Helliker I am a multifamily broker who only sells multifamily in the KC metro - typically 5-50 units but go as low as 2 and up to about 72 units.

Hi Jewell,The first thing is to see what is lacking the most in the property since small upgrades will have the biggest impact in the areas of low quality to start.