If he has the income to support a $550k mortgage, and a healthy cash reserve fund, he should invest the money.

As was noted, you don’t have enough equity in #3 to tap, so it’s just a financial self-supporting carry.

I can't comment just yet because I'm not completely up and running but they have had the best support out of anything I've tried before.

Just make sure the rental market can support the property’s expenses and have a plan for property management if you’re still in California.

@William VreelandKnoxville Pros: With family nearby in Nashville, you may have a solid support system in Tennessee, which could make managing properties easier, especially if you're new to the market.

Celebrate small wins, learn from each experience, and lean on your network for support.

Conduct thorough market research to support this flexible approach.

Ultimately, your ability to get a multifamily loan is going to hinge on the property's ability to support its own loan.

Happy to answer any questions you might have and we have the vendor list to support whatever strategy you choose. 

I just finished working on it and waiting for their tech support to help me publish my website under my own domain.