If you have this extremely valuable experience already under your belt owning 2 properties, why dish out a potential down payment for property number 3 over to a mentor or coach?

With over 20 years in real estate and thousands of deals under my belt, I'd say there's definitely a cozy feeling to owning your primary home outright.

In particular, I am interested in Rose Circle, just across the road from the breweries and the belt line.

Louis County or the Metro East, but I came up with zilch for Jefferson County.Northern JeffCo is pretty typical suburbia, but it then turns semi-rural very quickly as you get away from the 270 belt and seems to be quite different from St.

Kristen Haynes Realty Pros / Northstar Group Kristin,  Not commenting on your advice.. cost seg is a tool for ones tool belt.. but there has been big threads on BP lately about those who cut and paste answers .. and i see on this one thread you have done that twice..

On a turnover I scuff it with a buffing sander and give it another coat of poly and it looks like new . 

Maybe offer it at a cheaper rate to a developer with lots of years under his belt and take you on as a limited working partner.

As for the cheaper markets, I would look to do mid term rentals in the Rust Belt near hospitals like the Cleveland clinic to maximize the income to help mitigate the downsides and unexpected expenses associated with those markets.

Option 1 will require experience and is just there for illustrative purposes, 2 and 3 (in the absence of experience owning CRE) will require that the borrower be local to the property (if you want the best financing available on your first rodeo, stay local and stay turnkey, your lack of CRE experience is offset by your presumed local neighborhood level knowledge, etc, you can get fancy & still get good financing once you've got local & turnkey property #1 under your belt).

@Wes Holmes Just to add a bit more meat to the bone of what others have said:It's standard practice for hard money lenders to require a personal guarantee, but once you have significant experience under your belt, lenders are sometimes willing to drop the requirement for a slight decrease in leverage and/or increase in rate.Regarding extra collateral, lenders sometimes ask for this if the deal is too high risk for them as-is, but you have significant equity in other properties that make it wash.