I worked in REO for 11 yrs and can tell you many outcomes. 

Here's what's wild about 3.0% on a balance of around $256,000:Current rate is 4.75% with $1298 repayment, of which $936 is interest. 30 yrs interest = $207,000New rate is 3.0% with $1096 repayment, of which $642 is interest. 30 yrs interest = $138,000. 

.:/) Down Payment $27,980.00 (20%) Total Investment $37,980.00 Amount Borrowed $111,920.00 Unit 1 (3 bed/1.5 bath) $525.00 (rent we charge for our other properties) 3 $1,575.00 there's also a garage that I didn't know how to work into the numbers, or if it even should be worked in Total Investment Loan Investment Interest Rate(%) # of Payments Monthly Payment Notes $37,980.00 $111,920.00 4.88% 360 (30 yrs) ($592.29) Amortized Loan Total $671.25 (month) $8,055.00 (annual) Water/Sewer $40.00 $480.00 Trash $62.50 $750.00 every 6 months (750/2) Taxes (iffy on these #s) $267.50 $3,210.00 Insurance (iffy here too) $65.00 $780.00 Heat $- $- tenants pay Electric $- $- tenants pay Vacancy  $78.75 $945.00 (5% of Income) Management (we manage) $- $- (10% of income) Maintenance $78.75 $945.00 5% of Income Capex (roof, etc

I have recently inherited a house (free and clear), however, the house is over 50 yrs old and will need anywhere from 60-80k to be able to receive max rent.

I am 23 yrs old and I was at one point a nursing major but I truly hated it and so I decided to drop out.

I personally would suggest a syndication but typical hold time is 5 yrs.

I have made a goal to make 50 Million by the time I'm 50 yrs old!

Specifically, for the strategy I used, I did have to have quite a bit of money saved up ($90k) and that was from yrs of saving before, during and after the military.Before I even knew about house hacking and 4plexs and the VA home loan I was building my credit just because and just saving nearly my whole paycheck while I was living in the barracks, eating the food in the DFAC (Chow hall), no expensive toys and even after my contract ended I moved back home and lived with my dad for free and continued saving nearly my whole paycheck while I was working for AZ DOC as a Corrections Officer. basically, just keeping my expenses as low as possible and stacking cash away so I could take advantage of opportunities.So, it would behoove you to do the same and keep your expenses low, don't go into debt buying an expensive doodad like a $40k car, and a bunch of bad debt, and take advantage of one of the greatest loan products on the market!!

I'd guess so - I got mine funded in Sept 2017- I had 3 choices from the lender -- 3 yr rate lock, then adjustable, (either 5 or 7 yr rate lock) then adjustable or fixed for the life of the loan (25 yrs)5% at that time was what they were willing to do for the 3yrs, 6.75% was what they were willing to do for fixed for the life of the loan - they were one of the larger SBA lenders Id presume and kept it in house.

how can I prevent it, as they stay on credit history for 2 yrs.