Hi @Brandie DeNelle, congratulations on getting started and I love your game plan. 3 properties in 5 years is totally achievable using the house hacking strategy and BRRRR's to accelerate the growth.

The highest and best use with conversion of your property might not be allowed or wanted in the future for the county or city's growth plans.Sometimes in an area something like industrial might be grandfathered in but they want retail now as area has changed or multifamily etc.

Is there population growth?

Household formation spiked sharply in COVID, and that had nothing to do with population growth, and perhaps a lot to do with free money, great jobs, work remote, and more.

We have been past our "Number" for several years, so expanding into this Economic market we weighed more towards Risk Analysis and Wealth Preservation than bigger numbers (debt/asset growth) and increased exposure. 

Are you looking for potential growth in the area in upcoming years? 

What do you think the rent growth has been?  

Taking a higher rate, lower pre-pay could make the most sense and flexibility in the future is the way to go.Everyone that I knew that locked up Agency debt after the 2008 crash and did NOT remain flexible regretted it 100% and it really hurt their growth and kept them out of the real estate game for a long time.  

If you've had your SFR portfolio for awhile, financing shouldn't be that big of a deal, since you can clearly show your income growth and stability to a banker. 

We have been doing some buy-n-hold deals lately where the the Private Money Partner (compared to lender) put up ALL of the down payment - 20-25% - and we do ALL of the finding, rehab management if needed, securing funding and all ongoing PM and overall management.All cash flow is split 50-50, and all equity growth will be split 50-50.