For the 10 year period spanning December 2014-2024, single-family prices in Austin nearly doubled, yielding an annualized appreciation rate of ~9.4% in that period.

My original plan was to find a 4 plex in california buy using fha loan, move out after the first year and generate cash flow and appreciation, but after looking at properties it became clear to me that’s not possible with todays market and interest rates.

Our target towns are not in the urban centers but more suburban towns with good schools are moderately priced homes for families.

What is your current rate and what are you being quoted?

If it's already turnkey that means you're paying higher rates than necessary when you could put 20% down and get a DSCR loan with lower rates and fees. 

Do this hoping to keep your heloc balance below this number so you are paying less interest based on your average balance vs the rate of your first mortgage payment.

If the answer is yes, then it's a no brainer to make minimum payments on your 2.8% interest rate mortgage, and use the funds that you would have paid extra to pay it down faster, to either invest in more real estate, the market, or anywhere else where you can get a ROI > 2.8%.If the answer is no, then feel free to aggressively pay it down as fast as possible, to become debt-free faster, and just have a large amount of money in savings or to splurge with.The bottom line is that your 2.8% mortgage is GOOD debt.

also we do not know what is going to happen with int rates, they are very high now, the economy is not good and it is not certain they will be coming down this year. we know there will be more responsible gov spending, so maybe rates will come down, no way to know...I think you need to know the market where you plan to buy well, and go from thereBest of luck

Charge the tenants a higher rent rate and include utilities with their rent.

It is the interest rates at which banks lend to each other and is short for Secured Overnight Financing Rate.