a lot of people will poo poo this, but I also live in a market where cash flow is low, property taxes are high and properties are expensive (which is a relative term).

Quote from @Christina Weaver: Hi, @Steven Hamilton II  my husband and I live in California, a community property state.

I have a tenant who lives in my very nice three bedroom unit whose lease provides a pet authorization for “one dog, one cat and one rabbit.”

My credit should be the highest allowable also and I shouldn't have problems with approval.Ok, i shopped about 80 lenders (based on Fridays rates, market is closed so no live pricing)Conventional Full Doc loan you would be at 7.875% if you put 20% down (you said what the house was worth, but not your purchase price). 

You want to focus on areas where you have a competitive advantage (you have lived there or you have family and friends there) and then compare those areas against widespread list of great areas to invest.Good luck!

You'll likely also reduce your cost of living by moving to a stabilized apartment.Depending on the cashflow and debt paydown, you can use this strategy until you've built enough equity to reinvest.On the other hand, getting into a multi-family after refinancing will also help you build substantial equity to rinse and repeat in the coming years.

I'm familiar with the Greenville area, having lived in North Carolina for a few years.

The wear/tear is much less for STR because the guests do not live their full-time.   

I live in Sheboygan Falls, WI. 

Hi @Rachelle BertumenI live and work in the Truckee/Lake Tahoe area and personally own two long-term multifamily units in Reno.