The process went smoothly, and I’m happy I got a tenant so fast, but the high supply of new builds in the area makes me nervous.

One of the challenges with this string is that it is clubbing together two VERY different companies.

@Holly Thorsen see above for potential challenges tapping your equity in the rental.You only need 5% down for a regular mortgage, 3% down for an FHA mortgage - so why don't you have the funds?

Whether you’re managing properties, operating STRs or long-term rentals (LTRs), or just have an opinion on the state of the market, I’m eager to hear your thoughts and any new developments you’ve noticed.Here are a few things I’ve observed:Increased Supply of RentalsI’ve lived in Gainesville for a while now, and I remember a time when it was tough to find a rental.

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.

Raising capital with your existing track record is going to be extremely challenging.

It's always a little more challenging investing in out of state (I invested out of state for 15+ years) but you can still be successful doing it. 

@Shaun OrtizEvaluating distressed properties remotely can be a little challenging but it's doable with the right tools.

Challenges?

It's going to be challenging to find another house hack with as low of a monthly payment as you currently have, given the low interest rate.