I'm not saying thats going to happen again but I would say your not in a financial situation to withstand that type of downturn, so consider minimizing your risk and sell.

im 25 i WAS making 3200 a month and my girl is making 4000 a month. and still live at home now for the last year. ..but...we were young and were making decent money. we had a rent payment of 1400 a month, my girl had a 2014 c300 mercedes 340 a month,i owned a 2010 bmw 135i that i paid 29k for with 11k miles. i poured money into the thing it had jb4 50%e85 downpipes intercoolers full exhaust meth injection etc!

Holding properties free and clear will lower your returns on investment but raise your ability to withstand problems.The general rule of thumb I see is to leverage while you are acquiring properties, keeping maximum cash for down payments.

It's a nice property, and I think with a modest rent increase will provide a good cash flow.Problem is that I just closed on a triplex last month and that exhausted most of my "investment" account, so I'm thinking of offering a Master Lease with a 2 year Option to purchase.Off the cuff, I'm thinking this:$110,000 sale price, $7,000.00 (enough to cover real estate commission) for the option fee to be applied toward down payment if/when I exercise the option.Payments of $500.00 per month to the owner, with $100.00 per month credited toward the down payment when the option is exercised.Projected cash flow would be about $550.00 per month after all expenses and reserves, so I'd recoup my $7k fairly quickly, and I'd like to be able to assign the option just in case I get into a bind down the road.Am I on the right track?

Financing may be another post... to exhaust all bank loans ( I'm qualified with an LA lender), or start developing a relationship with a portfolio lender right away.

Indeed, economic experts predict the country can withstand four rate increases this year, versus the old estimate of three.

I seem to always kick myself for not looking at something in the unit such as age of HVAC/water heater, exhaust fans in bathrooms, windows operating properly, foundation cracks around doors/windows, what rooms have carpet/hardwood, etc.

@Ian O'reillyAlways exhaust your local resources and conventional sources of financing first and local banks and credit unions are great sources, but I would not discount "national" lenders and website only lenders.

you should have waited a bit to figured things and exhaust all your options  before jumping ship.

By the time I get out of work I am EXHAUSTED and have no energy to pursue these other dreams.