I think a lot of multifamily is top cycle and tapped out right now.Wage increases are stagnant for the middle class and are not keeping up with inflation.

@Celena LathropThat train of thought still runs inside me but I believe I need to keep on increasing my credit score, pay off as much debt as I can before I am able to make that type of purchase right?

These deals are often attractive because you can close quickly, do not have to bother with the headaches of a traditional bank, and can structure the note differently (e.g. interest up front, balloon payments, etc..).

You can easily pour $10,000 into a renovation that will only increase the sale price of a home by $4,000.

Buying a rental, even a turn-key, increases your income.

How are you attracting SEC 8 tenants?

Somehow, my cousin is convinced that if something worse were to happen to his parents (they are 90 and 88 yrs old with increasingly challenging health issues), and they would to be cared for in a nursing home, that the state of NJ would step in and claim all the assets to "pay" for their care.  

Win win Good luck do work hard and don't discount the law of attraction.

When you say that refinancing limits your ability to write off interest, do you mean that you won't be able to write off the additional interest increases or do you mean that it will also hinder the previous amounts as well?

I would definitely increase the rents to where they make sense for the deal immediately, but keep them month to month just in case they are nightmare tenants.