They are also useful for private phone conversations and could be used for storage of valuables as they could be locked.I'd love to be able to broach this idea with other nationalities and cultures but it's really hard if they're not working very long hours and have hours of free time at home.  

I'm open to properties were cap rate is around 10%+ and Return on Cash is 10%-20%. 

I was playing with the idea of selling my condo, taking 300k of the equity to put a down payment towards a house listed at 660k.I'm assuming the reno will run $300/sqft and going in with the assumption that phase 1 will run 750k (figure the expansion of the house will have to wait) for the gut reno.I assume/hope (but definitely not banking on) that I will be able to refi in 2-3 years at a lower interest rate; if not for a lower rate.This will likely be a family home for the next 5-10 years at LEAST so investment value isn't quite at top of mind ATM.Questions:Even if it's not for lower interest rate, do you feel it's advisable to refi to remove the 203 loan in the future?

Will interest rates go up or down when Freddie/Fanny are 100% privatized?   

Of course the rate is higher with 15% down, but it helps investors get that property secured with less out of pocket.Happy to help if there's anything you need.

Be sure that you are honest from the jump, your estimated rate are only as good as the info you give them.

You don't want to lose your rate on the house you are living in now unless you want to sell it so since that is an owner-occupied, you need to stay there and save up the 20 percent for the second property based on what you said.

Let the agent know that while you’re interested, the property’s condition and local comps don’t justify the asking price.Taking a warm, conversational approach can make negotiations smoother and improve your chances of getting the deal.

Exactly the reason to have an Architect on your team to join in on these conversations ESPECIALLY in existing renovations in older homes.

Since interest rates are now higher than the mortgage on your current home, you'll want to calculate that monthly difference.SIMPLIFIED Example: current house mortgage interest rate is 3%, balance $250k.