Make sure you can handle rent fluctuations, vacancies, repairs.

But you already know that so no pontificating from me.Your option #1 is a good, conservative plan but I hate renting so it doesn't work for me.Your option #2 makes some sense also but will be dependent upon interest rate fluctuations while you're waiting.

Or once the rate is fixed it won't fluctuate?

The fluctuation in rent prices can be an indication that something took place.

If no deals get closed, then it turns into 20% of $32,000.00 for April, May, June, and fluctuates based on closings that happen in the quarters, etc.Curious to hear others thoughts.Kyle

Of course, a market could and would fluctuate between a buyer's and seller's market so you could arguably say that you ought to wait until a buyer's market to buy.  

They stated they were hedging themselves against market fluctuations and never wanted to be underwater.

The lower income tenants the money they make highly fluctuates and any blip in their lives tends to derail everything.

., vendors may not stock 14' long dimensional lumber, so they'll substitute 16').3) Since lumber is a commodity, prices fluctuate constantly.

The big fluctuations means big opportunity.