So you pull out your equity, your mortgage payment might increase from $2700.And that refinance is still debt, meaning you won't qualify for as large of a loan on your next house.If you want to buy a stepping-stone property now to prepare you for a better home later, you should focus on buying something to sell it.

I own a large portfolio of single family rental in Memphis, TN, I'm happy to share my experiences and my network with you. 

New listings of single-family rentals rose 5.2 percent, adding to a robust supply of units.

Once you have added enough value in order to get max market rent then you move out and rinse and repeat.

I am interested in LTR with a multi-family property that has a total of 4 or more bedrooms or single family home that has at least 3 bedrooms, purchase price between 160K-230K, and does not require a large rehab. 

If every other post is some off-market deal or course pitch with no real value-added content, that's likely not the one you want to join.

They emailed me when I hit that mark at both locations and I added a tip and that was it really.

Let's assume my income is large enough for me to get a decent size mortgage (which I am not sure and have to find out haha).

If the property is deeded 100% in his name,  You have a couple of options.1. have your name added to the title/deed at the county and perform a refinance or a 2nd position private note as previously discussed2.

Most landlords I know will post an ad online and ask the tenant to do the sowings, as long as they can find a qualified tenant to move in then they just release the tenant from the lease