I love that you rented two of your bedrooms as mid term and short term rentals and made enough to pay for the mortgage and now you are going to use the rental income to show you can qualify for another property.This is an excellent strategy and one more people should consider doing in this inflationary environment to offset the biggest cost in their budget--housing.As you rightly point out, you can use this strategy with every house you buy accumulating a portfolio of houses that you originally started out living in as a primary residence every two years.Well done and more people should consider doing the same, or rent their garage, or shed, or a boat, or an extra car.Love it!

Also, in a mainstream asset class like value-added multifamily, I see no reason to take a risk on a sponsor that doesn't have full real estate cycle experience or that lost anything more than a small amount of money (and prefer no money lost).

In my opinion Option 1 could be a bit risky in today's environment as we are not sure if prices have hit the bottom yet, there are positive signs in the CoS market that point to price appreciation in the future, but there is a good chance the interest rates are not coming down for a while, which will have a negative impact on home values. 

I have a list of sub markets and their class ranking.

Purchase price: $155,400 Cash invested: $40,000 Property is located in Cuyler-Brownsville an historic district within walking distance of popular Metropolitan District of Savannah GA.I purchased the property to get started in the real estate space, however I value the walkability of the property, its proximity to parks and nightlife.Although the area is a rated roughly as a “C class” neighborhood.

After 5 years dabbling in STR's, BRRRR's, and flips, I'm ready to focus on one area and asset class, scale up, and build a portfolio that I can eventually retire on.

Purchase the crammer course through hondros or whichever school you took your classes through, it's helpful in narrowing down the information for both state and national

I target working class hoods.

We are in a Tough environment.

With affordable properties in the Midwest, on my Indianapolis Class C#1 house (owned about 1.5 years). purchase price $130,000, sounds good right?