If I am going to be buying one of the many $30k houses floating around in that area, I will probably be getting what I am paying for.

There are several STR spreadsheet tools floating around.

on a 10 unit multi familyLoan Amount: $1,000,000Pricing: 6.75% for first 5 years, thereafter, floating at 1 yr.

The options we have to refinance is a Home Equity Line of Credit which would allow us to pull 60% loan to value at about a 2.875% floating interest rate or refinancing as an investment property for a higher interest rate about 4.5-6.0% and only being able to pull out 70% loan to value cash out of the deal.

Again, nothing is best, just what your needs are. 5 year fixed term, 20 year AM with 30% down, if it covers DSCR. or floating 18 month until you secure longer term lease transition to fixed debt.

I heard something about a floating rate but lock in 10 days prior to closing? 

Thank you.The national average is 10% for maintenace on a home, but there are a lot of variables.I recommend you use 10% for each category until you are more experienced, have a larger reserve, or enough rentals you can float by with cash flow.

Plus it’s a floating rate, so if you are using it to brrrr a deal, once you complete the plan on that acquisition, refi it, and use the proceeds to pay it back down, the interest rate on that cost of capital effectively becomes zero.If you refinanced the existing property, your cost of capital on any subsequent new deal would be baked in at the new rate on your new debt.In regard to refinancing your current current property, I would look at your current return on equity to make that decision.

I was just writing a chapter and here's some options right from the book.Start shopping well before your old property closesNegotiate contingencies with floating closing dates so that you can delay the closing of your purchase until your sale closes don’t forget that the 1031 cuts both ways, you’re also a seller when you start your 1031.

If you buy it traditionally (down payment with bank, or buy it cash and re-fi), you will need funds to close, perhaps funds to float payments to contractors (with or without a construction loan), and you'll need cash reserves for at least 3 months (6 is best) to cover all holding costs associated with the property.If you want to go the creative route, that opens up a whole realm of options.