Too bad you can't buy something owner-occupied, put 5% down with the best interest rate, live in it for 12 months (and fix it up), rent it out and repeat the cycle.Here's some other info you might find useful:----------------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I find the best way to make money is to use your goals to create a math problem. 

It's a big enough company to recognize it's in their best interest to stay on the right side of the law.

I had the opportunity to talk with the owner and he's a great guy, he did his best to make sure I was well taken care of. 

As you get more familiar and develop best practices, you can then go to new construction.I hope this helps.

Cash out refi gives you a new fixed rate loan for 30 year term.Best,Jamael RomansUnited Mortgage Corp Thank you so much for your advice!

That’s the best bet.

Congratulations, you get to share your partners tax burden and pay the depreciation recapture at ordinary income rates. 

The bank will make you leave 25% equity in the property - but you also still want the property to at least cash flow some - so be careful how much equity you pull out / new debt you take on.I would do a cost benefit analysis of what your actual gain is in cash-flow on buying a new property with a (currently) higher interest rate (if financing), versus just holding on to the current appreciated property and enjoying that cash flow.All the best!

Check their occupancy, nightly rate and amenities.