@Holly Thorsen see above for potential challenges tapping your equity in the rental.You only need 5% down for a regular mortgage, 3% down for an FHA mortgage - so why don't you have the funds?

Stabilizing inflation could create more predictable home prices and rental yields, but affordability challenges—especially in urban markets—remain a concern.

Whenever I face challenges, I tap into my inner Goggins, reminding myself that if he can conquer the impossible, so can I.And let's not forget Think and Grow Rich, a timeless classic.

But if your goal is to cashflow positive from the Day 1, you may find it very challenging due to current day interest rates, high cost of construction and the fact you won't have the efficiencies of a seasoned developer building at scale.

You could also try to find a seller who wants to do seller financing and take a risk on you, which would be challenging to find.

By year end I will tackle a MF, value add with my son that would be sweet if we can swing the coop/tic (handling the finance challenges is the hurdle) so he ends up with a unit at below 50% of retail.  

On most any day you could find people walking dogs, or children playing in the area.

So, even when the market is challenging, you can still see properties and stay current.Don't take a break when the rates are high.

We have around $150,000 available for investment.We understand that finding deals in this price range in Phoenix itself might be challenging, so we’d love to get your input on areas near Phoenix where our budget could work.

I think I would recommend people start class b but I recognize the challenges to get the numbers to work.