I have a pretty large emergency fund in place for those properties, but I wonder if that capital could be better employed elsewhere (potentially acquire another property).  

And, FMV on 1/6/25 is not FMV today because now you don't have a lot in an established neighborhood, you have a lot in a disaster area which comes with the challenges I listed above.We built about three dozen "fire lot" homes after our fire--all lots acquired off MLS or from owners that came to us (we didn't market for lots), and not at a price that anyone would call a "discount". 

Wouldn't hurt to look in to both to give yourself the best chance at finding the best loan product. 

Most rental properties in Milwaukee are old and run down, our product stands out. 

Two, you'll have a much easier time obtaining a mortgage product if you have a track record of W2 income.In the meantime, continue implementing the strategies you mentioned: save religiously, build your credit, pay any existing debt owed, etc.

Hello,I am a Software Engineer and a Real Estate Investor working on a tech product for the real estate mortgage brokers.

Hello, 
I have a property i purchased for $165k with an ARV of $350k. After putting about $50k into the property,  I’m just about $25k from meeting my completion goal that includes stucco, drywall, and siding. What d...

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

I'm not a beginning investor but my previous properties were acquired pre-2013 but I've made beginner mistakes trying to grow buying "cash flow on paper" Class C properties in 2023. 

I haven't determined my price point yet as I'm still researching hard money lending and DSCR loan products.