I was a senior in college studying business management, evaluating my personal financial situation, and determined to be a wise steward of my first paycheck after I graduated, knowing I’d be climbing my way out of about $20,000 of student debt and several grand in auto loans.WhIle searchIng for somethIng productIve to lIsten to on a jog I found the bIggerpockets podcast.Ive learned more from BP than I ever dId In college.Despite math, my wife and I made the personal choice that we’d pay off our student and car loans before we got started.Fast forward three years later we paid everything off and saved $20,000.

We bought our 5th rental from wholesaler in August, full cash. otherwise I wouldn't have save $15k.

A quick glance at housing affordability in AustinMedian Household Income App (Forbes): $73,493 ($6,124/mos)Cost of Living (Forbes): 15% above nat'l avgMedian Home Cost (SFR-ABOR Stats): $302,250Assume 5% Down Payment Conventional Loan- 30 year amortization- $15,112.50 down pmt + any closing costs• Percentage of residents with less than $1,000 saved: 56%• https://www.gobankingrates.com/…/…/americans-savings-state/…- $287,137.50 amt financed- 4.375% interest rateHow the payment looks:PI= $1,433 mosIns= $105 mosTaxes= $458.33 mos (Assume $5,500/yr)HOA= $25 mos$2,021.3/mos PITIDTI’sHousing ratio= app 33% @ median income ($2021/$6124)FHA should be at 31% or less with Conv/VA/FHA being around the same although all have exceptions in placeTotal DTIThese hover between high 30%’s to manually underwritten total DTI’s in the 50’s or higher depending on the programs@ 45% Total DTI Ratio and assuming the above PITI pmt that gives a borrower approximately $734 per month in all other creditor debt (cars/cc/personal loans/etc)These numbers are not perfect but are rather a quick illustration of current housing affordability in Austin for Retail Buyers.Summary: Housing is becoming less and less affordable in the COA for end retail buyersAssuming increases in property taxes/insurance/interest rates on the horizon how does this affect us as investors?

My tax bill is getting damn near $1m.  3% would save me close to $30k.  

Hire out stuff that takes too much of your time but don't be afraid to get your hands dirty to save money.

My wife and I currently have three Ally savings accounts:1).

The prior owner didn't keep it safe and the moment I had the money saved up we redid the flooring (turns out the floor was rotted and that was replaced), tub surround, fixtures, toilet, etc.

I've been reading all about real estate investing for about a year while saving up as much capital as I can. 

What is your ultimate exposure.

@Brian Stike what did you ultimately end up doing - a cash out refi or eloc?