Since you are in an expensive market, commissions will also be high so you should be able to cover all of your expenses with just 1 deal basically, maybe 2. 

Leveraging your equity through a HELOC or cash-out refinance can be a smart move, but it depends on your risk tolerance and goals.

There are also a lot of hidden surveys that must be completed to get an idea what you are buying (under the water).

Quote from @Brett Michael: Investment property about 6.5% for a 30yr mortgage. 20% Downpayment.Mortgage would be $1600.

So, if you fail to apply the correct assumptions to a property, your expectations won’t be met and it may even be a financial disaster.We use the following to rank Property Classes, in order of importance:Property Tenant Pool: closely linked to location, but not always.Property Location: closely linked to tenant pool, but not always.Property Condition & Amenities: it’s important to, “Maintain to the Neighborhood.”Key metrics for each Property Class:Class A Properties:Tenant Pool: Majority of FICO scores 680+, no convictions/evictions in last 7 years.

STR demand is there, but regulations can be stricter.2.

There has to be an existing reason. 

If you have the ability to pay cash for the flooring it would be the cheapest option.

If you don’t comprehend what he’s saying (you Brittany obviously get it) you have no business being an investor.  

Staging would be super helpful.