You can spend that however you want including travel or whatever while you wait to move into your investment property that is just too nice to be a good investment property.

If your wife shares your interests, spend time with her discussing options.

@CJ M.My HOA president spends a lot of landscaping because his wife is really into gardening.

Definitely don't spend more than what will make the deal work.

Do you want to spend the time, energy, resources and take on the risk of trying to pull that off?

My goals are to replace me and my wife's current salaries through multi-family repositioning buy and holds in the next 8 years so we can spend more time with family and friends, travel, ski, hike, and give back to our local communities.Here are skill-sets of mine that I've built over the last 10 years that I think will translate well into the RE industry: project management, business development / selling, building successful teams, financial analysis, stakeholder management, strategic planning and roadmapping, and process improvement.Super pumped to be here and looking forward to learning, building relationships and working with you.

For example we don't have any "application fees", etc.Know exactly how much you need to close and how much you will spend for the money by the time you expect to exit....compare apples to apples.

You could go JV on a note deal and education that way; earning a return and education, however spending closer to 20-40k on that route.What are your goals for notes?

I've also got 5 kids I like to spend time with as much as I can, so I can't and don't work non-stop. 

If you can get better rate you’ll have more cash flow monthly and nice chunk from the loan to spend on next investment.