With house prices in our area sky rocketing and interest rates climbing, I’m getting nervous as to what our next step should be.

Although there are lots of multis on the MLS, it seems that most fall either on the end of high retail price in good neighborhoods with low returns or on the other end of better looking numbers in neighborhoods that are not as desirable (I know, not rocket-science).

You don't love the "Rocket Mortgage" that Quicken loan has whereby the buyer inputs their information and gets in instant preapproval?

In addition to Rocket Mortgage, consumers can contact Quicken Loan, LendingTree, RP Funding (who is also getting into the REALTOR REBATES via Listing.com)Actually, check this out, here is a Google search of Mortgage Lenders with 3,150,000 results  https://www.google.com/search?

With where the stock market is going, you may get lucky and not have to pay back much on appreciation of your asset in your 401K, but you never know if the stock market somehow sky rockets 20%, you'd be paying back a lot more to your 401k than what you would have saved from the interest decrease on your mortgage. 

Only reason I can see is that you are speculating that even right now the over market price you are paying will still be a great deal when it continues to rocket up in value...and that value will be way higher than the market now.....that's speculation....not investing....

This forum and the podcasts are rocket fuel for the motivation to keep pounding the pavement.See Pictures

This property is only going to sky rocket in the next 5 or more years.

It isn't rocket science, it is basic business.

The appreciation could sky rocket in the next ten years.