if you wait to take cash out or save it you are going to be waiting for home prices to rocket up in sale price.Mortgage rates are dropping and will continue to drop into next year so that means a few things. 

Lease renewals have a strict deadline. if you miss the deadline and fail to request a rent increase, then you will need to wait until the following year. 

-The property does have back property taxes, so I will need to contact the county assessor to find out information on paying those at/after closing, but I want to use that in negotiations for price/terms, as the taxes are now almost 3 years delinquent and tax foreclosure is coming this November if not paid (in full or in payments, tax assessor will know for sure).For context, its a 2 bed 2 full bath (1/1 each side) just under 1,800 sq ft. total, thinking rent for the larger side would be $1250ish and the smaller side $950ish, purchase price I'm unsure of but I would start at $120k due to burn damage and back taxes.

Personally I would probably just multiple by 0.005 if you're gonna use this as I feel like Zillow always estimates low.But I personally use instant Steadily Insurance estimates inside BrightInvestor - those do vary their estimate by location, unit count, stories, year built, etc.

Quote from @Breland Clark: I bought my first STR this year using a house hack method.

I see too many people wait for a year to buy while they try to learn everything. 

I’m reaching out as I’m looking to venture into the real estate investment world—something I’ve always wanted to do, and now I’m determined to take action.Last year, I found the perfect multi-family house, but it fell through at the last minute, leading me to jump into a single-family home.

My goal is to get a less expensive listing of local properties with absentee owners that have owned the property for 10 years or longer, and multifamily only.

I'm sixty years old and was toying with the idea of investing some of my retirement money in a home on Cape Cod.    

I'm a 30 year old who lives in the small town of Bennington VT.