But both should only invest what they can afford to lose.  

Quote from @Alvin Sylvain: I don't know of any special protection afforded you by placing the property in an LLC.

They're not just going to sit on it and wait, can't afford to. 

As home prices or interest rates increase, fewer people can afford to purchase homes, forcing them to rent.

The education is practical and affordable.  

can you afford it?  

I look at baseline affordability and edge just barely up.

It is pretty odd and frustrating problem you have.

The fact that our current rate is only 3% doesn't help the refi situation, as we probably would not be able to afford (or would at least struggle to afford) the payment on the new mortgage with the higher rate and principal.I think the best way to max cash flow would be with a small multifamily that needs moderate rehab.

I mean, Texas is still a great state because of the amount of jobs, the pay that comes with those jobs, and the cost of housing here as opposed to other places around the country.However, that key word "affordable" actually has a definition to it - and that's 30% of the income shouldn't go towards housing.