I would just wait to save up to buy, unless you REALLY want the property.

I will lay out my strategy on paper and meet with a lender.

Curious if we have to officially wait till trump is president or if some banks have already started.

Goal setting is not something you should wait until the end of each year to do, but if you have been busy and maybe haven't been able to get around to either brushing off your old goals, validating your existing goals, or creating your new goals, now is the time to do it for 2025. 

Covid hit family rentals hard; many landlords are still waiting for their day in eviction court, or have properties that are completely wrecked after nonperforming tenants vacated.

If you have not put them into service yet then you may want to hurry up and do that otherwise you’ll have to wait until next year.

Wait a couple of years and use your investment knowledge/experience along with your equity to invest in other properties i.e. those located in less expensive markets.All the best!

1) If you continue waiting for the "right time ”, you’ll always be waiting.2) Your current job doesn't care about you.

What do you think about refinancing FHA loan into conventional in order to utilize FHA loan again or does there have to be waiting period?

     * House is a 2699 sq/ft Single Family Residence| 3 beds, 3 bathroom | Built in 1956 | NO HOA     * There is a chance I could pay only interests so I can start saving some cash for the incoming maintenance and annual payment equivalent to the 12 monthly payments (~$5,029.77 per year during the balloon period)The advantages I can identify in this deal for me are:* Lower interest compared with traditional loans* Lower down payment compared with the ones compared for traditional loans* House is technically ready to be rented (waiting for the inspection) * Forecast - 3 yr growth (appreciation) is expected to be 8.1 % (Bigger Pockets)The disadvantages I can identify: * I am still vulnerable to foreclosure if sellers don't make mortgage payments to the bank.* Refinancing issues at the end of the Balloon Payment?