I have two interests.One is a mixed use building in the core or downtown, but as a remote investor, concerned about lengthy vacancies.The second is a long term play.

Good morning fellow BPers,I’m looking at buying my second property, this time a multifamily with my VA loan.

If you are selling for 1M after closing costs you could purchase two 500k properties in your exchange and own one cash and a mortgage on the second.

@Matt Powers I will second what @Jimmy Lieu said and Columbus and Cincinnati are great for rentals when considering price vs rents.

I didn’t consider the second closing costs. 

@Jerell Edmonds If you don’t want to front the cost to add the extra meters then one solution that worked for my father was to divide the billed amount by one extra part each month and you pay for the extra part.

The 1st position loan is paid off but has a second position heloc on the home with 50k balance.

I'm not sure I can copy and paste my Excel spreadsheet, so i will approximate the numbers here.Strategy:Take a Home Equity Loan (second) on our primary @ 5%.Pay off existing HELOC (variable, at 7.5% now), use remainder ($120k) to buy the land (plus 30k of our own cash).

Quote from @Jerome Morelos: I used a fixed rate second to finance the ADU, paying about $475/month for it.

My specialty as an example is working with investors looking to build portfolios of Short Term Rental/ luxury vacation properties all across the US.  90% of my clients use the 10% down second home occupancy loan.