@Hank Bank BRRRR is probably want you want to do.Buy, Renovate, Rent, Refi, Repeat.Before you go all in and either find out you don't like being a landlord or you make costly mistakes, start with just the next one.You'll have some challenges with tapping the equity in the townhouse:1) What loan amount can you qualify with your credit & income?

@John Sherwood The areas you mentioned are certainly high-demand areas, but they come with challenges.

Really the main challenge is going to be making sure that your wife understands what she needs to do to document her hours and activities.

As inflation drives rent growth, properties in stable markets like the Midwest can continue to deliver returns even in higher-rate environments.Market Conditions Favor Real Estate RecoveryThe commercial real estate (CRE) market has faced significant challenges in recent years, but signs point to a recovery:Bottom of the Market Cycle: CRE appears to have reached its low point in late 2024, with 2025 marking the start of a slow recovery phase.Limited New Supply: High interest rates have curtailed new construction, which should drive rent growth in the coming years.Policy Changes on the Horizon: There is growing discussion about potential policy shifts under the new administration, including a return of 100% bonus depreciation and lower interest rates.

And if you dare to challenge anything their Messiah states, you're immediately booted.

Being a Navy public affairs officer and moving often sounds like a unique challenge, but it also gives you the chance to explore and invest in different markets.

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.

I recommend you call a local agent or broker to give you a better lay of the land so you understand the challenges/opportunities in this area.

I am a husband and a father to 3 children.

Regarding building the proprety for $700K, that is a challenge for sure.