Typical equity build up time is 5 years, depending on your market.But can you purchase another rental using your own capital?

Will interest rates go up or down when Freddie/Fanny are 100% privatized?   

I'm open to properties were cap rate is around 10%+ and Return on Cash is 10%-20%. 

I was playing with the idea of selling my condo, taking 300k of the equity to put a down payment towards a house listed at 660k.I'm assuming the reno will run $300/sqft and going in with the assumption that phase 1 will run 750k (figure the expansion of the house will have to wait) for the gut reno.I assume/hope (but definitely not banking on) that I will be able to refi in 2-3 years at a lower interest rate; if not for a lower rate.This will likely be a family home for the next 5-10 years at LEAST so investment value isn't quite at top of mind ATM.Questions:Even if it's not for lower interest rate, do you feel it's advisable to refi to remove the 203 loan in the future?

Be sure that you are honest from the jump, your estimated rate are only as good as the info you give them.

The owner occupant rate is super low compared to many states but as a rental it goes up alot.  

@Brian Dolbeare This is a "it depends" question for sure, but in most cases street parking is pretty common here.

Since interest rates are now higher than the mortgage on your current home, you'll want to calculate that monthly difference.SIMPLIFIED Example: current house mortgage interest rate is 3%, balance $250k.

This, in turn, allows for higher rental rates or quicker sales, directly impacting the ROI.I could remember when an investor purchased an old, three-story commercial building at  a bustling downtown area.

It all depends on the property you are considering.