For a value-add play it is still important, but typically not going to be breaking the budget quite as much, especially if you have the ability to raise rents reasonably significantly.Also, out of curiosity, does that NOI have built in on going reserves?

@Connor Kelly Other options :Use first rental property to take a HELOC upon for down payment on next rental property.Use a Hard Money Lender / Different Bank on the right deal to buy all cash loan to cost or with less money down.Partner with another private lender or investor to acquire either all cash, you bring the hustle/muscle and they bring the loan/down.Any other way to get it done that makes sense.

Raising rents will add value, as well as I plan on to install central air and to replace a few old windows on the building.

@Mashika Patrick - it was a syndication, so I only put $100k in, but we raised a total of $2M.

You would hate to have a vacancy for a month or two if you raise the rent too much at once unless you know you can get someone to move in immediately at the desired rate.In a nutshell... what are strategic plans? 

We're moving forward with our fund and fund raising, but we're pulling back on hospitality and increasing our focus on housing.For us it's always been a long term play. 

Most are lowering their LTVs and raising their interest rates some.

I realized the there was some opportunity at the time, but struggled with raising capital.

I’ve heard today that BB&T is raising investment mortgage rates to 6-7% to slow demand.

With spring/summer inventory coming up and raising interest rates, we're likely headed into a buyer's market.Those who have been nurturing qualified buyer leads will have a lot going on in the coming months.