We already have a primary residence in the area with a mortgage, since we had moved to his part of the country because he was ill in 2021 when mortgage rates were 3%.

Loan rate/terms get complex once you hit that 5+ unit property, so you'll ideally want to work with someone who can help on both sides of your plan.I'd also consider MTR as an option for a $70K property.

This can affects a lender’s credit rating.

i would be purchasing the property with an FHA loan. and im also looking for solid cashflow + long term holding I think house hacking is great way to get started, especially here in SC so you can take advantage of the lower tax rate.

I actually had to get enough units where I could offer tenants multiple housing options when I purchased properties rented at way under market rates and then (an embarassing number of times) personally watch tenants that would "suffer" from a rent increase turn down smaller (but nicer places) or  nicer places in a less prestigious zip code (sometimes only minutes away) before I realized that I was hampering my ability to earn a living in order to subsidize the lifestyle choices made by a some random stranger that happened to live in a property I bought.

Wait for first few fed rate cuts and refinance to purchase the next property, and onwards.

Hey Yona, Columbus offer a great balance between affordability and rental rates.

@Sean HaleyOut of curiosity why would you sell a home at lower interest rates than market rate?

I just received the appraisal for 2024 and the assessed value will increase $28K, increasing my taxes $600 if the tax rate doesn't increase.

Would it be pro-rated a t all if she were to sell a few months before hitting the 2 year mark?