You have time now to get a better loan with better interest rates and maybe lower or zero down payment.   

I'm sure you will need tools to find deals (eg price/sqft etc), estimate rents, calculate cash-on-cash returns, cap rate etc.

Since interest rates are now higher than the mortgage on your current home, you'll want to calculate that monthly difference.SIMPLIFIED Example: current house mortgage interest rate is 3%, balance $250k.

He is interested in REI, has good basic knowledge on REI and has more than enough saved up for down but hesitate because of current market, interest rate, rental demand, capex, first investment jitters, draw of stock market, etc, etc. 

I was able to fund a brrrr deal using 0% interest rate business credit cards ($95k across different cards), I didn't have to deal with lenders and their high interest rates or their draw request process to access renovation funds.

High interest rates are deal killers IMHO.

Some will tell you to make the change anyway but that seems a large risk in this high interest rate environment.

Quote from @Jimmy Lieu: Quote from @Andrew Syrios: The BRRRR strategy is tough these days (I even wrote an article about it that goes into more detail a little while back: https://www.biggerpockets.com/blog/beyond-brrrr-taking-advan...)In short, high interest rates as well as labor/material costs makes it hard to buy a property with debt and cash flow. 

enjoy!

If so, it seems like they would restrict the pool of gems to only free and clear (other than for the tax lien) properties for which the owner is dead or is hard to find.Are there any interest rate bid down states that don't have in their laws provisions similar to https://www.azleg.gov/ars/42/18204.htm as they relate to excess proceeds stuff?