Buying a second home to rent out is a solid strategy, but be sure you understand the cash flow, including mortgage, taxes, and potential vacancies.

I'm hesitant to give up my conventional loans on the next cash out refinance for DSCR loans.

You could also do a cash out refi.

Do you have cash reserves for capital expenses and improvements? 

Until that happens, enjoy major cash flow. 

Owning a duplex at 20 is a huge accomplishment, and it’s inspiring to see you’re already planning your next move.From my perspective, real estate investing is a long-term game focused on building equity, paying down debt, and maintaining stability over chasing short-term cash flow.

Mostly due to the fact my spouse and I agreed on her to have zero involvment in any sort of RE investing (and its our home) I think once you have a good 6-12 months of reserve cash (operating expenses for your own life saved as a back up incase things go bad) save enough liquidity to get the ball rolling on your first invesment.

My first goal is to hit 5k per month in pure cash flow and second goal is to hit 10k per month in pure cash flow.

Let's use that as an example. 20% down is $43,000 plus lender loan origination fees, closing costs etc is going to push you over $50,000 cash out of pocket.

Purchase price: $305,000 Cash invested: $80,000Single Family home in a 55+ community. 2 Bed 2 Bath, attached 2 Car Garage.