Yields in Boston are very low.

Section 8 is best used as a risk mitigation tool for properties in super low income, high crime areas.

That will be a determining factor for where it makes sense for you to purchase.Regarding waiting - bear in mind a lot of people were predicting rates in 2024 would be in 5% range or low 6s, which didn't turn out to be the case.

I don't think we go super low.

Is there a way I can take on the current mortgage payments (at the low rate) and get a new mortgage to make up the difference between the existing mortgage and the current value?

We are in a very low tax bracket this year but should be 10% higher in 2025.

@Rishika Garimella I am a local home inspector and investor in the area. i think Austin is a sleeping giant right now. the rates are really scaring away buyers. but since competition is so low right now, its a great time to snag some property while its not being ripped apart by investors. i think the hutto manor area is a great choice, once that freeway opens up that connects taylor to round rock, it will definitely become a point of interest.

In my state i have no such requirement on security deposits but i question the feasibility of doing this as well as how will anyone know as long as you have the means to pay the tenant their deposit when they move out. most banks charge for low balance accounts.  

While you might find a lender offering low down payment options, you'll still need cash reserves for repairs, maintenance, emergency fund (ideally 3-6 months of expenses), etc.

We must both help our fellow small investors and expose them to the light of day !!!