I’ve heard so many inspiring stories about members who started with nothing and now own multiple properties by taking a chance.

Why would someone buy now and make little money for the chance that the rates will adjust later?

Shayan,Best option to avoid issues and stay risk free along with having a better approval chance would be to go with a Cash out refinance.

And , since I had been working in an industry I really wasn’t passionate about, this was my chance to try an industry that I have had a passion for for the last 12 years or so.

@Placeholder PlaceholderOne word of caution I would advise: If a community or local government is enacting restrictions and also regularly enforcing them, then its often a reflection of the local community sentiment which increases the chance of a neighborhood or nearby resident calling you in if they think you may be running an STR.

Rent rates have increased so quickly over the last few years.

If private companies continue to provide the insurance, I suspect we will see further increased premium costs which will need to be reflected in the rents tenants pay (all tenants: LTR, MTR, STR).  

Also, watch out for any litigation or construction issues that could lead to HOA fee increases down the road.Alternatively, you could consider a good deal on a single-family home or a 2-4 unit property.

Not only for the census ending in 2020 but also the projected population from 2020 to 2025.I agree that population increase is important and should be factored in when analyzing a property. 

It's not that different from a normal rent increase.