This would allow me to stockpile rental income until I’m ready for the next investment, giving me more flexibility in the long run.Thanks again for your insight Yeah, I think a 15 year or 30 year loan is a better option because the interest you pay every month is lower and also you can pay it off in a short period of time if you want to.

When you sign almost all mortgage closing packages, you are signing an Occupancy Clause that states you are intending to live in the home for 12 months.  

Months later, Tenant is now claiming close to 10K.

Quote from @Ivan Castanon: For the past 6 months I’ve been looking for houses (both SF and MF) that can produce at least a little bit of cashflow with around 20% - 30% down.However, I’ve started to realize that this is pretty much impossible these days.I currently have $110k sitting in my bank ready to be invested but I just can’t find anything that will at least produce a 3% COC return.

So if I do a good analysis of the property (including all the costs) and the property generates monthly CF with a DSCR above 1.1, I would be removing a big risk because the numbers add up.

By the time I reach 20% equity (likely 3+ years away), my monthly mortgage payment will come down when I refinance, but $600 is a big hit to the numbers. 

Price point I'm not sure on yet, I've been slowly learning about all of these terms over the past month. 

Right now the rental has a cash flow of $250 per month.

My husband and I are approximately 6-12 months out from executing on our first real estate purchase.

sometime next month", for the last 4 months!!.