Rates right now aren't great so you won't benefit much from a refi but Sam can take a look and possibly suggest changes to make so that when rates do come down you are in a position for refi

Sounds great .Good to know that you had a positive experience with him!

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.While the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall annual loss.

Let me know if you have any questions...there are so many nuances when it comes to lending guidelines, getting the best terms, and setting yourself up in the best position possible for properties 2,3,4 and beyond as you build your empire. 

Benefits of cost segregation really come down to personal tax positions… they can definitely help you lower taxable income but it’s situationally dependent. 

You're in a great position to house hack.

The other thing I use for savings is my cash position in my taxable brokerage account which right now is getting 4.5% interest. 

Tenants told me seller had tried to sell to investors before but after meth test came back positive they were going to drop the price significantly. 

I am in a relatively same position as you.

My situation: I graduated college in May 2024 and started a FT position at a public accounting firm in September.