This would make it into two, two bedroom units with the intent of making them long term rentals.I'm guilty of having a lot of projects going at once so my focus right now is bringing the cottage to a point to refinance out of the private money and either make it our primary residence for a year for the financing perks or to go straight into a short term rental.With the four bedroom house I'm trying to decide if it's worth splitting into two units or if I should keep it a four bedroom rental.The cottage I'm also tempted to do mid term with to lower the turnover and maintenance but open to suggestions.The third property I'll probably just let the current renters pay the mortgage for the time being if I'm able to acquire it anytime soon.

The 1031 exchange would allow you to indefinitely defer all of the capital gains taxes and use it to purchase multiple newer properties with lower capital expenditures, in a better market. 

I lowered the price of both even more and was able to find a tenant for one of them, will see what happens with the other!

(I’d prefer you found a way to put down 20% and save the PMI as well as lower mortgage origination costs and on going interest costs.

I think 5% is a pretty standard rate to estimate with, but beyond that you might be higher or lower depending on your approach to landlording. 

I would stick with individuals at those lower price points. 

Thus, your profit margin is lower (than the all-cash offer), but your ROI is higher.

I understand the cash flow and cash on cash return will be lower, but we are looking at holding these properties for the foreseeable future so, we are expecting to make up for this with appreciation.  

I am hoping for lower interest rates but I calculated I would need the rate to be low 3’s to break even.  

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