I would like at least 5 year balloon at 5% 30 yrI'm still working out down payment, but also want to keep some aside to make this ugly thing prettier (paint and some other stuff ~ $3000 plus sweat).What do you think?

Go to sweat some pipes...

I know it's sleeping time over there for you guys (I am sitting here in my room sweating like a piggy in this hot and humid afternoon, haha), so anytime when you wake up and see this post, you could just write :) Looking forward to hear back from you!

I'm not willing to have negative cash flow waiting for interest rates to change, but I don't mind putting sweat equity in either.2017 and 2021 were obviously great times to buy homes, but is 2023 just extra challenging for an aspiring real estate investor? 

I’m not interested in being a passive investor and relying on someone else for the sweat equity.

Or a young couple, with sweat equity, who want to make it their forever home.

So while there should be a percentage of equitable contribution, sweat equity also plays a factor.  

1) Smart, successful value adds that would allow you to extract sweat equity.  2) patience to save up the deposit via you income.  

You can cash out refi on the investment property if you plan on adding value(sweat equity), it’ll be tighter to do if you are looking for a turnkey property.all-in-all it’s a great plan to let your primary residence work for you providing you do the proper due diligence on your investment  You're absolutely right!

Lose a tenant in your only house and you sweating until you find your next tenant which will likely lead to a poor decision.