Seems to be a really smart place to park cash at 6% Cap rate, with depreciation tax benefits and projected equity increases in the 23-30% range in the next 3 years.

Our current rental was purchased for roughly $340k 7 years ago and is worth in the mid $500’s now and is paid off, and our primary was purchased for $430k 4 years ago and valued low to mid $600s and we owe $180k.Option1 we are considering are a fix and flip to provide cash for a down payment for a long term rental to allow the rent to cover the mortgage and at least break even.

Rent By The Room offers higher cash flow than a single tenant for the entire property, however it does come with more work.

Purchase price: $19,000 Cash invested: $29,000 This was a lower income class C- sfh buy and hold for 3.5 years.

They tend to appreciate a bit less but cash flow well.

Unless you plan to sell your home soon, cash out refi it.  

Also- $120k in liquid cash is a LOT more than most investors start with - I’d say take your opportunity and run with it :)

I am undecided on whether to buy another property in west New York and continue to do airbnb or buy one in PA just for rent cash flow .

It seems that I will likely need a decent down payment to get a cash flowing rental property.What alternatives do I have to raise money for the down payment?

I have had consistent cash flow from Tulane students and have not had an issue refilling the house.