Tenants in lower Classes will have lower credit scores, which means higher chance of defaulting on their lease payments.

@Charles EvansFrom my experience, having rental income of $1,400 to offset a $2,600 mortgage, leaving you with a $1,200 payment, is a manageable setup with an income-to-mortgage ratio of 28.5%.

Our negotiation approach focused on building rapport with the seller, allowing us to secure the property below market value.

I have a duplex I have been renting for almost 10 years and want to use the equity in that property to use as a down payment on a storage facility.

I have equity in my CO rental; I don’t have a large enough sum saved up for a down payment yet so I’m wondering if a HELOC would be an option on my CO property. 

There are tons of loans out there that use just the projected or actual income from a property vs the payment of the property (DSCR loans). 

On the other hand, if you’re financially secure, the low-rate loan and potential appreciation make holding more attractive.

A $100-$200k down payment would get you a decent multifamily property, possibly with land depending on where you look. 

It's probably going to mean paying points at closing, a high rate, and a serious pre-payment penalty (like 5 years). 

We refinanced and cashed out all our renovation budget plus $5,000 and actually kept monthly payment the same as rates had dropped.