I'm also based in CA and invest out of state (Detroit).

As a lender that has also personally invested in many properties, I think both sides can get too greedy.

Investment Info:Single-family residence buy & hold investment.

We were initially looking out of state for a potential move and or investment property just because the property taxes without being able to homestead, plus high cost of insurance, and harsh weather on homes made me feel like it might not be worth it.

Investment Info:Single-family residence buy & hold investment.

You would then have two loans, one on your home and one on the refi to access the equity on the investment home.Why not just use the refi cash out from your home loan for future deals? 

Quote from @David Cherkowsky: Hi All,I purchased an investment property in the middle of last year and to this point have been using 0.75*lease value in my DTI calculation.

DBIt depends on your goals, but generally, a long-term rental should ideally provide a solid return on investment beyond just breaking even.

Congratulations on your first investment, excited to hear more about your success. 

His client-focused approach and his commitment to building long-term relationships with investors growing a portfolio piqued my interest and made me really excited about the business.I was matched with one of their investment strategists in May.