My Max is 12 x annual rent (if location is outstanding).Reason: decreases chances that the property becomes a money pit. 

You can make a good deal If you buy below market price, find a way to decrease the labour costs and sell yourself if it is an attractive unit ( for example using prop.no).

Refinancing will decrease your cash flow. 

As we are looking at ways to improve our efficiencies and decrease vacancies, the topic of self scheduled showings is on the table.

This can easily change if you pay off early or appreciation/rents increase or decrease by more than 2% per year in that market. 

@David Valladares I agree that house-hacking is the way to go, to build wealth faster, particularly because you would be decreasing your own housing expenses.

-if prices do not rebound we will need a plan beyond that and it will not be pretty-this can and will hit the rental market in a variety of ways and here are a few potential issues i see.1. higher end rentals could see prices drop or vacancies increase as this type of downturn could hit middle to upper income families that have not budgeted or who see their jobs or incomes decrease as companies tighten their belts and cut salaries or even lay off more folks.2. low income rentals would see more evictions and more late rent payments and potentially small decreases in price - while many of the low income families in town do not work for the oil and gas industry they do often work in service industries that are frequented by oil and gas folks or depend on programs that are subsidized by oil and gas money in our state budget. 3. property prices and values - prices are being driven up on investment properties mostly by out of state investors as there are very few areas where you can get a "decent" property for under 100k and we are still one of them. 

This was also in the Airdna email:Key Takeaways Demand and revenues in Beijing, Tokyo, Milan, Rome, Seoul and others have plunged throughout the month of February and into MarchMost US markets remain strong and stableEvent cancellations in Austin and Barcelona have dealt crushing blows to hostsHosts in many locations are decreasing available rates to incentivize travelBright spot: booking behavior is highly localized and dependent upon destination type (leisure versus urban)Short-term rentals are often more immune to the impacts of pandemic than other travel industries 

Possibly even offer some gifts to tenants during hard times(next 30 days example), decreased rents for a month or even gift baskets with (tp/sanitizer/food)!

I was interested in getting my second property to get over the 2nd home barrier, learn more about the home buying experience, and decrease my living expenses.