Right now, you have a property with a great equity position, solid cash flow, and cheap debt (interest rate is low). 

However, rates have since moved upward.A 30-year fixed rate mortgage is once again sitting around 7% interest:For broader context, here’s a chart for 30-year fixed mortgage rates over the past 5 years:The real estate industry hoped 2024 would see a recovery in which mortgage rates fell and home sales climbed.

If trump hadn’t won you’d be forced to sell this year, but hopes are high he will extend his lower tax rates. 

You can also expect increasing HOA fees, and there may be some problems renting a property inside a difficult.You don't have any experience, prices are at an all-time high, and rates are also high. 

@Robin Simon I completed a refinance with my credit union at terms of 3/30/75 @6.85% I will have the renwal in 2026 and hoping rates come down a little by then.

White collar professionals, higher education rates.

2) If you do owner-occupied cashout refi for best rate, you technically have to live in the home for 12 months before renting it out. * Some responders here may suggest not worrying about that and renting it out anyways.

I've now used it twice.The program requires 10% down, must be a rental, no PMI, and has a very high standard of credit.Last I did it (Summer 2022), my rate landed in the low 5%.  

I know of at least two big players in the lending space who have begun asking for a higher rate if you had in a sec 8 / HAP leases.

Thought about refinancing at the time, but didn't do it before rates exploded.