I would also advise that you keep an emergency stash of cash in your regular bank.

Look into emerging neighborhoods or smaller multi-family units that might be more affordable.

We have $50k set aside for emergencies related to our rentals.  

We have been your average corp job employees for the past 15+ years (maxing out 401K, emergency fund savings, etc.). 

We live a couple of hours from the property and needed local people to lean on in emergencies.

Of course, if it concerns water, that is an emergency.

Contact the CS Outsource answering service team that does our late-night support.They help with 24/7 emergency support, overnight coverage, troubleshooting issues, dispatching approved vendors & local staff, tracking and managing maintenance work orders, and other back-office tasks.

Happy to make an intro to our answering service team that does our late-night support at CS Outsource.They help with 24/7 emergency support, overnight coverage, troubleshooting issues, dispatching approved vendors & local staff, tracking and managing maintenance work orders, and other back-office tasks.

Here’s why it might be a smart move:Maximize ROI: With leverage, you can control a larger asset value with a smaller initial investment, potentially increasing your returns as the property appreciates.Preserve Liquidity: Keep your cash available for other investments or emergencies while still participating in lucrative real estate opportunities.Tax Benefits: Deductible mortgage interest and expenses can lower your taxable income, enhancing profitability compared to an all-cash purchase.If you have the means to buy with cash initially, you can later refinance to unlock equity for further investments or improvements.

I have reached out to multiple lawyers in South Carolina looking for workarounds but no creative ideas have emerged.