Assuming the property is appraised at $650,000.00 I am hoping the equity will get my LVT to 75% eliminating the PMI, adding to the potential cash flow when I go to rent and then putting that cash flow + personal savings away to raise capital to buy another piece of property.I realize that in order to buy my next piece of property I will want to put down 20% to avoid PMI and a high mortgage but saving 20% for a piece of property in my area is going to take some time due to the high price ranges $500,000-$700,000.

Hello,I'm considering remodeling my current home and eventually renting it out when we purchase a new place for our selves.

You can find properties in the price you indicated but they have historically appreciated less than inflation, they may attract poor tenants, they likely will have poor rent growth    Or house hack local market and need at low as 3.5% but easier at 5%.  

Yes, it can feel like "wasted" money on months where rent is auto-paid and there is no maintenance to be done, but when you get a bad tenant or two or when deferred maintenance finally catches up to you, they certainly earn their keep.At your scale, you might be able to get a bulk discount with a good PM, especially if you can show how well your current systems are working and how they'd be needed less than usual.

After swallowing some lumps thanks to one thread I posted back in April, I should (crossed fingers, no blown furnaces or sheard off roofs) be in a good position next year to reinvest.This is hopefully not a beat the dead horse, "where is the best cash flow in X" post, more of a strategy question for anyone who knows the market in CT.Here is what my limited knowledge/intuition tells me: Waterbury, Bridgeport, parts of Hartford cash flow best because of the inherent risk, lower fairfield county cash flows worst (today) because of NYC effect on price/rent, and there is an in-between SOMEWHERE.I think that somewhere is in the central part of the state between route 8 and 91 north of new haven, east of waterbury.

@Ben Stanley If you are talking about a house hack where you rent extra bedrooms that will be a little different than buying a 2-4 unit property and living in one of the units.

Is it still allowed to rent the replacement property out before closing the sell process? 

DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.

He is 18 days late on rent.

Did you intend to rent it out until you were ready to tear it down?