Hello all,I was hoping what’s the best way or options I may have to buy a property for rental use purpose?

Just like auto insurance, it isn't to buy you a brand new car, it is to fix yours or give you the value of the car as of the date of loss.

Scenario 1:Rate: 9.375%Monthly Payment: $1,185.31Closing Cost: $12,768.53Broker Fees: $2,417Lender Fees: $2,170Cost to Buy Rate Down: $0Escrow Fees: $2,797.501 Year Hazard Insurance: $1,044Impound Account: $1,598.04Appraisal Fee: $500Down Payment: $48,000 + $10,526.54 (30% down + closing costs)Total Cash to Close: $58,526.54Scenario 2:Rate: 8.875%Monthly Payment: $1,144.87Closing Cost: $12,768.53Broker Fees: $2,417Lender Fees: $2,170Cost to Buy Rate Down (1%): $1,120Escrow Fees: $2,797.501 Year Hazard Insurance: $1,044Impound Account: $1,598.04Appraisal Fee: $500Down Payment: $48,000 + $11,646.54 (30% down + closing costs)Total Cash to Close: $59,646.54Scenario 3:Rate: 8.625%Monthly Payment: $1,124.87Closing Cost: $12,206.54Broker Fees: $2,417Lender Fees: $2,170Cost to Buy Rate Down (1.5%): $1,680Escrow Fees: $2,797.501 Year Hazard Insurance: $1,044Impound Account: $1,598.04Appraisal Fee: $500Down Payment: $48,000 + $12,206.54 (30% down + closing costs)Total Cash to Close: $60,206.54Scenario 4:Rate: 8.375%Monthly Payment: $1,105.03Closing Cost: $12,768.53Broker Fees: $2,417Lender Fees: $2,170Cost to Buy Rate Down (2%): $2,240Escrow Fees: $2,797.501 Year Hazard Insurance: $1,044Impound Account: $1,598.04Appraisal Fee: $500Down Payment: $48,000 + $12,768.53 (30% down + closing costs)Total Cash to Close: $60,768.53Which of these options do you think is most suitable, given that I plan to pay off the loan sooner rather than later?

Am I missing how this can be leveraged to increase equity to buy rental property??

I currently own six properties in Indiana and I'm now looking to buy a condo here in Chicago for personal residence.

If you can afford to buy land and improve it, you can make a decent profit.  

My timeline is probably 1-2 years as I believe the market is softening right now, especially with the high rates.I have two questions: - Is it a terrible idea to actually buy a Condo/Townhome as a primary?

I am now in the negatives as far as ROI with things like buying lists, paying for dialers, etc.

When we buy a roof they see the expense in our income/expense data from Yardi and make the appropriate deduction to depreciate it over the correct time period for that filing year. 

I usually receive a large bonus from work in late June so July 2025 is my target date to buy my first piece of property, although I realize opportunities may arise before then.