It means a smaller upfront payment but still gives you some cash for future investments.

A 5% rate when you have a 40% down payment using your equity makes the difference.

Multi family you can get as low as 50k/unit for something decent. 50-125k/unit is the general range for prices to still have positive cash flow from day 1 with your typical 20-25% down payment. 1-1.5% rent/price ratio in most cases. 

As such, payments that you make need to be prorated between business deductions and personal deductions.

Primary - 4bed/2bath, 2200SF, 3car attached, 1/2acre lotMortgage = $330k, Payment = $2100 PITI, Value = $450-475kRental - 4bed/2bath, 1600SF, 2car detached, 1/2acre lotMortgage = $190k, Payment = $1600 PITI, Rent = $2100/mo, Value = $330-350k-Market rent is closer to $2500, but we kept the rent low to help the family that lives there.

You have to calculate based on a more than a few things like loan amount, down payment, taxes, Insurance, (Any HOA) PMI, based on credit, etc.If you are 1099 the Bank can look at the most recent 1099/Schedule C if you have been in business for 5 years or more with a 25% ownership in company or more. 

I make $100k a year and only have one vehicle payment for total debt. 

We could do what we did before and just save up a down payment -- I'm sure we'll actually have enough before we're ever able to find a good deal again :) But we are wondering if it would still make more sense, if we're able, to use equity in our first one for the down payment.

Keep solid records of every rental money move, get cozy with the right tax forms, and think about making estimated tax payments throughout the year to dodge penalties.

I've looked online but couldn't find a lease that has anything about not being able to claim ownership of the property, most were focused on rent payments which I'm not concerned with.