any lender wants to know how you plan to service the debt.

Eliminate debt, establish a budget, and save.

(This option would would not carry any debt, all debt would be paid in cash)Or keep our current house, rent it out, and cash flow NET monthly about $1,500?

.- China is issuing record debt to stave off recession, while the US bull market continues (Wallerstein).- Texas vs California Home Construction.

Hi KyleThe way most real estate for sale is priced these days there’s little to no cash flow after debt service with 25% down - borrowing a down payment would put the investor in a negative monthly position. 

You'll likely also reduce your cost of living by moving to a stabilized apartment.Depending on the cashflow and debt paydown, you can use this strategy until you've built enough equity to reinvest.On the other hand, getting into a multi-family after refinancing will also help you build substantial equity to rinse and repeat in the coming years.

Eliminate debt, establish a budget, and save.

I’ve taken care of all my debt and am pre-approved for roughly $220,000.

The owner does not want to extend the debt for 30 years.

Hi Anthony, it sounds like you’re in a good position to start building your STR portfolio, especially with no debt, great credit, and rent-free living!