Here are some tips and insights to consider as you begin building your real estate portfolio:Options:Refinancing: If you have equity in your condo, consider refinancing to access funds for future investments.Investment Loans: Explore options like conventional loans for financing future rental properties.HELOC: Depending on your equity and financial situation, a Home Equity Line of Credit (HELOC) could provide flexible financing for down payments or renovations on new properties.Build a Financial Strategy:Budgeting: Create a detailed budget that includes mortgage payments, property taxes, insurance, and maintenance costs for your rental property.Cash Flow Analysis: Calculate expected rental income versus expenses to ensure positive cash flow.Emergency Fund: Set aside funds for unexpected repairs or vacancies.Research the Rental Market:Location: Choose rental properties in areas with strong rental demand and potential for appreciation.Tenant Profile: Understand the demographics and preferences of renters in your target market.Market Trends: Stay updated on rental market trends and local regulations affecting landlords.Property Management:Self-Management vs.

Keep in mind cost/sf varies GREATLY based on a number of factors so unless you're getting bids based on your city-approved drawings, these numbers should only be used as "ballpark estimates" for analysis purposes. 

So many people never move past analysis!

Market AnalysisMarket Shifts: Have you conducted a recent market analysis?

A good agent will also help you with analysis.

Lenders usually look for established rental income history rather than future projections.Alternative Documentation: Some lenders may consider future rental income if you have a solid lease agreement and other supporting documentation, such as a detailed rental market analysis.

Here’s a detailed analysis to help guide your decision:Initial Costs:Purchase Price: $260,000Down Payment and Closing Costs: $60,000Monthly Cost: $400 for several yearsMarket Value:Current Value: $540,000 to $600,000Immediate Equity: $280,000 to $340,000 (based on the market value minus the purchase price)The substantial equity in the farm can be a powerful tool for your investment journey:Home Equity Line of Credit (HELOC): You could use a HELOC against the farm's equity to fund other investments.

So, I came accross a short term rental market analysis report for the city of Fresno, and found a really interesting chart representing the seasonality of the short term rentals. 

We're in the early stages.

They've got an event coming up in Texas in April called the Deal Analysis Workshop where you can learn how to underwrite multifamily deals.