., the National Weather Service recorded 119°F, peaking at 120°F by 4 p.m.

My first property I bought here was in horrible condition and a complete gut job.

The way I understand it, you can own another home and still qualify for Fannie Mae's 5% down payment option for multifamily properties, provided you meet certain conditions.

Thru the years it has been vandalized and damaged also by weather.

as you were - what I meant was VA loans are for primary residences/properties in “move-in ready” condition, with very few exceptions.

The interior is stuck in the 1980's but the condition of everything is still well-maintained.

Again, market conditions were (still) different - good deals were oh so easy to get.In the following year, I finally learned about BP, and decided to become a real “real estate investor,” which (I thought) “required” me to expand beyond just doing buy-and-hold.

I have a blog post where I talk about the power of buying via an assumable loan and I think this the only way to buy a profitable investment in today's market conditions!

The reason I ask is if the loan is near market rate (versus the rates available 2.5 years ago) then a refi to extract sweat equity could make this more worth the effort, risk, cost. to be blunt, with the numbers as presented and without any extract of value (refinance), I am unconvinced that the smart move was not to re-rent in current condition for $1k.  

Local economic conditions can vary by neighborhood.Key Considerations:Local Economy: Research the economic stability and diversification of each city.