Don't compare yourself to others, particularly the self-proclaimed geniuses online.

Refinancing could help lower those monthly payments, or if it’s just not performing, selling might be the best bet. 

I would caution working with any lender that does not have some sort of licensing, reviews, and presence online.

I've depreciated it over the years so it's been a good investment for tax purposes and we've also leveraged it previously to purchase another rental before we refinanced it in 2021 at 3%.  

My wife read online that if you use 1031 to purchase an investment property in NYC that as far as houses are concerned, you can only purchase a multi family house and not a single family house or houses.

see link http://www.dupageco.org/Recorder/3392/You can search personally or online.

At 6% appreciation, which I think is reasonable in this neighborhood, IRR moves to 25%.Option 4) Hold on to all properties by saving $3k/month of W2 income and refinancing in a few years if interest rates decline -- Pros: Maintains entire portfolio.

Currently you can find 1000sqft apartments in decent neighborhoods starting at $45k and homes starting at $60k , this is info i found online Bolivia is one of those places where people are still old school and you find the best deals by word of mouth.

Property 2 has a chance to get refinanced out and cover the overage on property 1 if the numbers work.Are there any other clouds on title?

Here are some tips and insights to consider as you begin building your real estate portfolio:Options:Refinancing: If you have equity in your condo, consider refinancing to access funds for future investments.Investment Loans: Explore options like conventional loans for financing future rental properties.HELOC: Depending on your equity and financial situation, a Home Equity Line of Credit (HELOC) could provide flexible financing for down payments or renovations on new properties.Build a Financial Strategy:Budgeting: Create a detailed budget that includes mortgage payments, property taxes, insurance, and maintenance costs for your rental property.Cash Flow Analysis: Calculate expected rental income versus expenses to ensure positive cash flow.Emergency Fund: Set aside funds for unexpected repairs or vacancies.Research the Rental Market:Location: Choose rental properties in areas with strong rental demand and potential for appreciation.Tenant Profile: Understand the demographics and preferences of renters in your target market.Market Trends: Stay updated on rental market trends and local regulations affecting landlords.Property Management:Self-Management vs.