Looking for feedback from folks who have been in similar situations and have lessons learned or advice, as I am just getting started and this is literally my first post.Wife and I moved out of our first townhouse and rented it out to grow our family 3 years ago.

The typical P/HML has a default rate around 1% to 3%.

Just curious what that market is like and if this is good idea for the area and what rates are like.

The first mistake is the property is free and clear.  

Of course, when the cap rate eventually increase, that would be a different story.For those of you who invested in previous funds, do you know what was the going in cap rate for the MHP in your fund?

Only do that though if you can pay it off or get close to paying it off within a couple of years before the interest rate changes. 

One of the reasons we have such a high success rate with navigating a state that so many say is not landlord friendly is because we know the areas to go to and the area t avoid. 

It's good to hear a positive first hand experience. 

It would be our second up down house hack, however, with interest rates in the high 6's, it would probably not cash flow after moving out.

Quote from @Cody Lewis: My wife and I recently purchased our first STR.