Does anyone have any experience on buying a first rental home in the current economic climate where interest rates are below 3%.

With the higher population density and strong job market, you will have more insulation than in the secondary market from any economic changes while experience more long-term benefits that come from being so close to a city center (rental and property appreciation).

This artificially altered the true supply/demand ratio Very low interest rates that became lower to spur the economy to combat the economic impact of Covid Realize that both of those reasons are Covid related and have resulted in a current price in excess of what would have otherwise occurred.

A short-term hold is OK as long as you can demonstrate your intent was to hold for investment but there was a business, economic or other reason for the quick sale.  

The Fed has stated they will not change policy until we are on solid ground with economic recovery.

They want stronger tenants with stability to the cash flow today and into the future especially we are over 10 years into an economic cycle but Trump's tax policy juiced it a few more years.

As far as pricing or interest rates go, all of our investors publish rates daily, and also adjustments through out the day, based on what is happening on Wall Street and other major economic news in the US as well as in other countries.

Also given our economic climate with COVID-19, low inventory, and inflation, we could sell the property and make about 70-100K.

These are presumably the few things that it makes sense from an economic / risk assumption perspective to have the tenant assume / perform.

Unfortunately the economic intricacies of commercial real estate performance foreclose the ability to use rules of thumb and easy tests such as this.