You don't want to be so focused on getting into the game that you leverage the start of your entire life just to do it.

So it's a waiting game for that property until you have enough to do a cash out refi.

@Desiree Board For your mix of long-term rentals (LTRs), short-term rentals (STRs), and house flipping, an LLC is ideal for liability protection and pass-through taxation.

You'll also need to know your rights because the Review Boards often try to intimidate owners.

In this game, sticking to one property type is your fastest path to mastery.

If there was no appreciation, there is no need to do a 1031 exchange.I have never been a fan of condo's as you lose some control over the investment - You have no control over the monthly maintenance fees, you may not have control over who is on the board, you have no control over special assessments.I wish the investments turn out well for you!

I'm new to the real estate investment game and I'm a bit nervous about dipping my toes into unknown waters. 

Quote from @Scott Hertzog: Hey everyone,I am coming into this game a little later in life.

They could also call the local board of realtors and talk to the grievance or professional standards dept to file a complaint.

A borrower really needs to have at least some "skin in the game" to make lenders feel comfortable.