You need to have fun with your first one and overloading yourself could result in an unfavorable experience.I’d also like to add try to find a real estate networking group in CT to join.

I agree that it's possible to make a good/ descent buy in an unfavorable market.

Regarding buying in Portland, while it is a great market for appreciation and rent growth the laws here are super unfavorable towards landlords.

I would be very cautious about over paying for an average property that requires 10k over value (cash) with unfavorable loan terms.

Terms were also unfavorable, going from 10% down to 15% down at 7.35% with 2 points at closing and a 5yr prepayment penalty of 6 months interest.Rental estimate is app. 2250/month which would leave me covering and additional 600/month out of pocket.Am I right to consider selling this contract, if even possible, and if so, can anyone point me in the right direction?

@Oleksandr Ivanovskiy, a traditional cash-out refinance using a conventional loan product for an investment property, is limited to a 75% LTV and the rates are very unfavorable after the loan level pricing adjustments to these scenarios at the end of 2021.

Additionally if the debt market conditions are unfavorable you could end up with bad terms or high costs. 

I would leave RE investing if I no longer enjoyed it, or was no longer profiting, or the tax laws changed drastically and unfavorably (this will likely not happen in this country).

Local banks in the area have quoted me very unfavorable terms like 5 years with high interest rates relative to what else I am seeing in the market.

This way you don't have to pay the unfavorable rates and get income from your first residents.