@Rosette PooleRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

This option can allow your property to cash flow at a higher rate because the monthly payment would be cheaper than if you were to have a conventional loan; then once rates come back down you can decide to refinance on to the traditional 30 year fixed.They require much less for pre-approval and look more into the asset that you're looking to purchase than they do things like credit score.I hope this helps!

If you plan on living there, I would pick the place you want to live, then start investing.  

It's possible that your tenants are using something like that and then bringing the stuff down to dry it.

This gets people burned too many times by getting comps from a wholesaler, believing the comps, and then trying to sell it at that outprice that the wholesaler/bad agent gave is a huge miscalculation.

Quote from @Erica Dike: Quote from @John Underwood: Quote from @Michael Baum: I am not sure I agree 100% with this @Erica Dike.There are a lot of overlap in all those demographics and if I can create a space for multiple demos, then that is what I will do.Our place fits will for most of these with the exception of luxury folks.

Since then my wife and I have been getting calls from people about wanting to buy this house.

Jillian,You can solve two problems with just using a DSCR program to refinance pull cash out and then close in an LLC. 

It's also nice that they have their own recommended insurer, those rates are much lower then what I would pay up in the northeast. 

Even if we got a higher rate then it would have still worked out not having a balloon payment next year.