If you have favorable terms on those first mortgages, you might find that a HELOC or a second-position loan is more cost-effective than doing a full refinance or a DSCR loan.

But if your looking to cash flow like $500 or more per month you might want to look into more cost effective markets where you can purchase a property very cheap and the rents will give you that type of cash flow your looking for.

Which would be more effective for pitching my Airbnb arbitrage business?

You’re able to learn the basics of a real estate investment with lower risk and build equity at the same time.Because you're in the military, you'll be able to enter a property with 0% down which means you can leverage your money way more effectively. 

@Elijah Berg Elijah, that’s incredible—you’re crushing it at 20!

If interest rates come down, then we should see more demand for homes, which will increase prices, and have a modest dampening effect on rent growth. 

Since you currently operate without an LLC and report rental income on Schedule E, the vehicle purchase might not seamlessly integrate into your existing tax structure.To leverage Section 179 deductions effectively, you may need to consider restructuring your rental property management operations.

Over time, you’ll also have the option to raise rent to further improve cash flow.House hacking is an incredible way to learn, build equity, and set yourself up for future opportunities, it's how I started as well and it was the best decision I've made! 

Keep in mind local zoning laws and market conditions in Portland versus Salem—Portland might offer higher rents but stricter regulations, while Salem could provide better cash flow opportunities.Your design approach has proven successful, so continue focusing on appealing upgrades like kitchens and bathrooms, but prioritize cost-effective and durable materials for rentals.

By exploring options for cost-effective utility usage, such as installing low-flow fixtures and implementing irrigation systems, we can significantly save on water expenses.To keep things running like a well-oiled machine, you’ve got to have a rock-solid asset management plan.