I don’t think a three year historical lookback is sufficient.Unless the market fundamentally changed, I would just sit tight.

Since the interest rate is already high, adding to it won’t drastically change your overall costs and will free up the liquidity you need for the new investment without affecting the low-rate financing on your multifamily property.Using the hard money loan to close on the new property could work well, especially if the property generates the $6,000/month you expect.

@Hector Espinosayou won't cash flow anything for several years, if ever. 

We can remotely control the temperature, but if someone (a guest) manually changes the thermostat, it overrides our remote settings, which is what we want.   

It ain't the '80's anymore, sec8 tenant is a-changing.

(Sorry I know this was a long post)Ever thought about diving into real estate investing while still in high school?

I'm running BRRRR deals through my modeling sheet and none of them ever come with positive cash flow.

After it's rehabbed, you could then rent both units and use the cash flow to offset another primary residence or potentially refi and use those funds to scale your portfolio.I wish this policy change was being talked about more because it unlocks a creative new strategy for investors in MA, since you do not need to owner occupy to do it! 

If the investor chooses to invest in a notes fund, then the manager is doing all the work you described rather than the investor.And if the investor chooses well, that manager will have years more of experience than the investor can hope to ever attain (and will not make rookie mistakes which they might).

I joined NARPM just after I started in PM and it was the best business decision I ever made.