Given that properties in your target area are around $250,000, a 20% down payment for two properties would indeed be achievable with your cash-out funds.Market ConsiderationsCentral Texas Market:The Central Texas market is strong, especially for single-family rentals (SFR).

While you’ll face a fair share of rejections, patience, and persistence can lead to excellent off-market opportunities.Search for “For Sale By Owner” yard signsKeep a sharp eye out when you’re driving through your target neighborhoods.

The biggest key to you doing a refinance will be to target your monthly savings. 

Cheaper mortgage rates can lead to increased homeownership, potentially reducing demand for rentals and making it challenging for rental property owners to fill vacancies or achieve desired rental rates.

That low interest rate is gold, and as rents in Stockton are still climbing, you could achieve positive cash flow relatively easily.

I would consdier where your target demographic is looking.

Building a solid team is a smart priority, as real estate investing is much more efficient when you have a trusted group of professionals→ agents, contractors, lenders, who understand your goals and the local market.Your plan to own four long-term rentals in the next four years is both realistic and attainable, especially with the type of property you're targeting.

The members of WBP are filled with go getters and go givers, because of them I have achieved more in my young multifamily journey that I ever thought possible.

But, as tou sharpen your analytical skills, and quantify the parameters of your search, you’ll be able to better target a doable deal.  

THAT is the ready target market.