As prices increase, fewer people can afford to buy homes, forcing them to rent.

Some strategies to get around are:1. leverage your current portfolio and buy in cash, increase value, and then refi2. buy Multi-family so your ratios aren't the main factor to lenders3. get in with a lender for high net worth individuals4.

Did lenders reactivate HELOCs after the rates increased?

Investing in a new construction duplex or quad in a high-growth market is a smart approach—both for immediate cost savings and long-term cash flow.I also agree that focusing on markets with strong job growth and population increases is key.

Not a huge increase in cash flow, but you're picking up another appreciating asset. 

If dipping into your emergency fund makes you uneasy, you might consider waiting a bit longer to build it up or look for ways to increase your cash flow on the current property.

Long term interest rates should continue to increase.  

Additionally, the house is 25 years old and could use cosmetic updates to increase rental appeal.

It is essentially the last town before the pass.Regarding what @Lisa Marie said, there are is a ton of good info in there but for your needs, you need to increase the cost to clean.

As they see their money is safe and you're succeeding with your plans, they'll usually ask to increase the amount of money they loan to you.