@Hank Bank BRRRR is probably want you want to do.Buy, Renovate, Rent, Refi, Repeat.Before you go all in and either find out you don't like being a landlord or you make costly mistakes, start with just the next one.You'll have some challenges with tapping the equity in the townhouse:1) What loan amount can you qualify with your credit & income?

We have around $150,000 available for investment.We understand that finding deals in this price range in Phoenix itself might be challenging, so we’d love to get your input on areas near Phoenix where our budget could work.

Real deals with real economics rarely face allocation challenges.

Our portfolio currently cash flows, but cash flow isn’t our top priority right now since we plan to use this portfolio to supplement our retirement in 12 years when I leave the Army.My biggest challenge is committing to an out-of-state market.

Managing rentals when you are nearby can be challenging but out of state is pretty tought.

Laws, taxes, insurance, adventure, new challenge, grow skills, etc. 

Yes, having tenants pay ACH via a Tenant Portal software is best, but not all will cooperate and some will play games that result in NSF charges.We allow tenants to deposit cash/check/money order directly at our bank into our account.Many Class C & D tenants have challenges adapting to unfamiliar ways to pay and is often not worth the hassle (and possible evictions) to get them to change:(

These options often come with their own set of challenges, but they’re worth exploring if you’re willing to get a bit creative.In short, it’s not easy, but with the right strategy and persistence, it’s doable!

Maybe we can exchange insights and strategies to help each other navigate the challenges of getting started.Looking forward to staying connected!

I'm curious to connect with any other STR/ MTR owners in that area to get more info on resources that are in the area and what challenges/ successes you have had there.