Hi all, buying my first STR and selling a piece of land I bought in 2021 for 4x to help reduce the note.  

That way you can reduce your living expenses and get cash flow from it. 

I also wasn't aware that actually having PMI could reduce your rate. 

If you want another property, increase earnings, reduce expenses, and save up for the down payment.

Obviously, one must use the BP principles and "Buy right" to significantly reduce risk. 

These markets can provide more stable rental income even with higher interest rates.Creative Financing: Explore creative financing options such as seller financing, private money lenders, or partnerships to reduce the amount of cash you need to invest upfront and improve cash flow.It's also good to conduct thorough market research, analyze rental comps, vacancy rates, and property management costs to ensure that the property will cash flow effectively.

At your income level, you may qualify for help or reduced property taxes.

. #2 reason is that rentals already bypass self-employment taxes (usually) which is the primary benefit of an S Corp (reduce SE tax plus PTET possibility).There is zero harm leaving it in the S Corp just don't revoke your election.

Here are some pros and cons of each approach to help you decide:Paying Cash for One Home and Refinancing LaterPros:No Mortgage Payments: You won't have monthly mortgage payments initially, which can reduce financial stress.Equity: You own the home outright, giving you full equity which can be used for refinancing.Lower Costs: No interest payments and possibly lower closing costs compared to having a mortgage.Better Negotiation Power: Cash buyers often have more negotiating power and can close deals faster.Cons:Opportunity Cost: Your cash is tied up in one property, potentially limiting your ability to invest in other opportunities.Refinancing Risks: Future interest rates may be higher, making refinancing more expensive.Market Fluctuations: Property values might decrease, affecting the amount you can refinance.Buying Four Homes with 20% Down on EachPros:Diversification: Owning multiple properties diversifies your investment, reducing risk.Rental Income: Potential rental income from multiple properties can generate cash flow.Appreciation: You benefit from the appreciation of multiple properties.Leverage: Using mortgages allows you to leverage your investments, potentially increasing your return on investment.Cons:Higher Debt: You'll have multiple mortgage payments, increasing your debt and financial obligations.Management: Managing multiple properties can be more complex and time-consuming.Market Risks: Market downturns can affect all properties, amplifying risks.Cash Flow: If rental income is not enough to cover mortgage payments, you could face cash flow issues.Considerations:Financial Stability: Assess your current financial stability and ability to handle mortgage payments and potential vacancies.Market Conditions: Consider current and projected real estate market conditions and interest rates.Investment Goals: Align your decision with your long-term investment goals and risk tolerance.Professional Advice: Consult with a financial advisor or real estate professional to get personalized advice based on your specific situation.If you prioritize lower risk and less debt, paying cash for one home might be the better option.

The Fed does NOT seem inclined to reduce them, and all the people saying they'll come down have absolutely no idea when that will actually happen.If, however, you can afford to make the payment indefinitely, then now is a great time to buy because should rates come down, you'll be the only one refinancing that property, instead of being in a bidding war with others who were also waiting for rates to drop.