If you do not qualify, you would then look into if you would qualify with renting your departing residence. 75% of the lease will be used to offset that departing residence mortgage. as you mentioned the timing of renting the place can absolutely be tricky so you would hope you do not have to do this.Finally, and I guess would be sorta of a trick, but we do bridge loans on occasion in this case IF you can qualify once you get the property rented at market value even if debt to income ratio is too high before it is rented.

Even when the market is down, gradually adjust rents so tenants don’t experience a huge price shock later.

Out-of-state investing in cash-flow markets or partnering with experienced investors for passive returns are also great ways to put your capital to work.

congrats on the Naca program I have sold a  handful of my OREO to Naca buyers.. its a great program takes some resolve to go through their initiation process. 

I'm planning on buying a LTR at the moment, likely small multifamily. markets are hard too.

Are you looking into certain investment strategies to begin or certain markets? 

Fort Worth is a great market to get started REI.

I would say you should start off by just meeting multi-family investor-friendly agents who can help get you started with 5 units search and work on finding you off-market ones as well Thanks Kerlous!

Quote from @Ivan Castanon: Quote from @Jay Hinrichs: depends on market most of FLA that wont move the needle.rust belt mid west you can find deals for those amounts.. going to be rougher areas of course. do NOT follow the advice of anyone suggesting second postions or gap funding.

For me, it has to be a data-driven decision: what is your current NOI, what would be if you replaced the boiler, how much will it cost, and how long will it take to get your money back...If the area and marketing don't warrant central air, I would NOT do conensors right away and just focus on the forced air.