However, I think for the average person this is probably not true. 

I am looking at a 5 unit building that I want to do a condo conversion on. 4 units would be vacant 1 has a rent controlled tenant in there who does not want to move.

I've sold over 80 homes personally in the last 30 months and I'm usually within $5k of the appraisal report when I run my CMA for clients.

Personally, I'd cash-out refinance into a 30 or 15 year loan.

Me personally I look at my rental as a business everything is paid for by rental.

Keep in mind that DSCR loans are how most investors have scaled. whether its residential DSCR or commercial DSCR at 5+ units. personally, i like them better. few reasons why:1. seasoning period is only like 10-30 days vs 60days going conventional2. seller max contributions DSCR is 3-6% where conventional its only 2% max3.

Personally I would want to manage the rental myself at least in the beginning to make sure you get good ratings.

I bought this property with a private interest free loan from a friend. the person i bought it from need cash fast so i offered them a low cash offer and they accepted.I had enough money saved up to rehab the house with my savings.

JeffWe lead a couple investor meet up groups in person and live stream about the Central Ohio real estate market.

I have read all of the "trends" and statistics but now I am Looking for feedback on personal experience in the Akron market.I appreciate it!