@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?

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.

I just closed another one with Easy Street Capital and it was very challenging because our Loan Analyst assigned was pretty new, causing many delays and errors that should have been caught early on. 

For those who invest here, it has been tough sledding since 2023, and much more challenging since the onset of 2024.   

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. 

I think the 0% origination will be challenge.

As it relates to lease end dates I've seen two things work here. 1) You can stagger end dates as mentioned above or 2) you can optimize for summer - this works better for us in areas where you see students or families with school age children moving to align with the summmer months.Separately, this is a great argument against month-to-month leases.  

Challenges?

Two things not covered so far:1) If a buyer challenges a seller-financed transaction, the Dodd-Frank penalty is that the lender must make the buyer whole.