If your plans are to buy the land, build an investment property and your friend run/manage it.

However, if you’re early in your investment career and plan to grow at some point down the line, then it mathematically makes no sense paying down either with extra principal payments.

Hey @Amit Desai, yes if you are planning on renting it you will be in that investment load space.

If I buy a new property as a primary residence and move into that new house, will I still have to pay a down payment for an investment property if I plan to rent out the house I currently have after I move into the new house?

They need to speak with a lender who can pull their current entitlement charged for the current loan, and then they need to tell the lender what County they want to buy in and how much of a home and downpayment they plan to purchase.  

I plan on continuing to invest in real estate and aim to become financially independent within 10 to 15 years.I appreciate any advice or insights you can share.

How long will it require to implement your business plan and rent / stabilize the property? 

In terms of timeline, don't plan for it to be a fast process, your rockstar local loan officer will not be processing the assumption, it'll be a group of call center people reading scripts from a computer screen.

After 12-18 months we plan to refi with bank financing, we are just not in a position we can do that quite yet.

@Jamall Lynch Planning for capex events is good once you have a property and want to keep adequate reserves to handle a large capex event.