We've run about a 20% vacancy rate. 2 of our MTRs have been great, the third we sold after it wasn't generating enough inquiries over two years of effort.

Also be aware that cash out refinances typically have slightly higher rates than initial purchases or just rate and term refinances.

This has definitely paid dividends for us when it comes to mortgage rates and lending options. 

Note: I'll caveat: I believe that other factors should be considered when analyzing the market as well (i.e. economic growth/stability, low crime rate, affordability, etc.)

I’ve got some buildings with great interest rates that just won’t cash flow with less than my original 20% equity.

From my research Poughkeepsie looks like an area on the rise. 

I'm interested to hear about this due to rate hikes and optimism in the real estate world coming in the year ahead! 

We were discussing options for payment as we don’t have a lot of capital at the moment, however they have a property that has a bit of equity we could tap into, but they already have a favorable interest rate.

Eventually I realize that when I think about living on post-expense rental income, I’m treating the income as the “withdrawal rate”, in Boglehead parlance.

@Brandon VanTuinen  FYI the appreciation rate in City of GR is around 6% right now, so you're making around $24,000 a year just living there.