I understand that the investment or time and energy is required and correlates with success rate.

A colleague recently closed on a 12-unit property in San Antonio and shared that a 6.8% cap rate, combined with lower property taxes, made it a no-brainer.

The rate the intelligence is growing is out of this world.

Is it to lower rate?

You need to be aggressive with your pricing to compete for the few available renters.I recommend dropping our price to $1,750 and offering a month-to-month lease or six-month lease.

I do not care what the source of the return is  Historically the highest return is via a value add and appreciation and is more so recently due to the recent rate increase versus earlier this century (before 2022).However, most new RE investors cannot handle extended periods of large negative cash flow.  

@Arshiya Taami yes, you could potentially keep the great rate in the #% range that you have and tap in to the equity with a 2nd loan of up to around 80% to use for the down payment funds you are looking for.

I live in a very desirably town in upstate NY, refinanced at a super low rate, so will keep the house as a rental.

You can shop 10 or 20 lenders in a weeks time, find out what products they offer, what rates, what overlays and qualifications they each have for you....

Financial Highlights•Acquisition Price: $72,000•Renovation Costs: $35,600•Total Investment: $107,600•Funds: raised from personal savings and private lender•Appraised Value: $160,700•Monthly Rent: $2,150•Cash-Out Refinance: $3,200 after paying off private lender and myself•Rate and Term Refinance: 30 yr amortization, 7.25% interest, 70% LTV•DSCR: 1.45% Lessons learned?