However, in my experience, those who rely exclusively on this strategy can face significant challenges.

-Opportunity cost: A 7% interest rate isn’t great, but if you think you can achieve returns higher than 7% by buying another cash-flowing property, paying off the mortgage might not be the best use of funds.Now, let’s explore saving to buy another property:Investing in a Second PropertyPros:-Diversifies your portfolio, reducing risk if your Palm Desert STR underperforms or faces challenges (e.g., stricter regulations or lower demand).

The challenge we're facing is the lack of short term rental data for the appraiser, and we won't know if it will meet the debt service coverage ratio (DSCR) requirements until the appraisal is complete.Has anyone dealt with a similar situation?

Taking time for self-care and nurturing our well-being will empower us to tackle challenges with renewed energy and focus.As we move forward, let's celebrate each milestone, no matter how small, and remain resilient in the face of setbacks.

Challenges?

What are the biggest challenges people have faced with this.

I have never been shy of facing challenges and I truly believe knowledge is power (something my grandfather taught me at a young age)I really want to learn everything there is to learn about realestate and am driven and hungry.Thanks in advance for any suggestions or recommendations.

In a city like Philly, you will face many challenges - you need to learn the market and know the neighborhood and the block and make sure all of your numbers are within reason, you need very reliable contractors, you need a to understand the permit process, you need to be familiar with market expectations. 

It's up to you how far to take this though.When we're faced with this, we try to hold the tenants accountable, by pushing hard to do self-showings.- Who better to show the house and speak positively about than a current tenant?

@Arron Paulino Your posts illustrate the challenges of exiting SFH's in markets where the natural buyer is another investor and not home owner.