Markets like Cleveland and Columbus have a lower barrier to entry, are landlord-friendly and you can cash flow. 

Plus they are making it more expensive to participate.

. * [6-24 months] Whenever I find a job and qualify for a FHA multifamily, get that property (with break-even cashflow most likely), and rent the condo at a cashflow loss for a couple years until rent increases (due to high-interest on underlying debt)* [Almost immediately afterwards] At this point, do a cash-out refinance on the condo to pay back the SBLOC (unsure if this is possible immediately after getting the multifamily loan), and secure a lower rate for the condo itself.I know this strategy sounds like loser, as it bleeds money all around, but my hypothesis is:* Underlying assets should grow more than 8.15% in a given year, and I would not pay short/long-term taxes on stock.

House hacking may not be for you, but every method involves risk, expense and discomfort.

They're so expensive, but I'm having trouble finding an insurance provider for short term rentals.

We've had a lot more success with good old fashioned cold calling, response rates are lower (5-10% nationally) but you don't have your accounts being shut down every day.

Thanks  Pros:-Lower monthly payment = higher cash flows-Save more equity than paying down principal, can be utilized in other projects and to scale-Generally better for tax purposes (no tax benefit to paying down principal)Cons:-Higher rate-Higher risk (deleveraging over time give you more LTV cushion generally)-Less cash out / harder to refi in the future (UPB will be higher)

As an aside I buy properties I can fix up upon the initial purchase or shortly thereafter so as to minimize future expenses.

Having rental income cover my living expenses.

As far as appreciation goes, I'm seeing the highest appreciations happening in more expensive markets like New York, Los Angeles, and others.