That's why it's a smart move to obtain estimates from various sources, not just the major players like Zillow and Realtor.

Another thing to consider is after they move-in, how will you handle rent collection and maintenance. 

Ex: waiting for rates to come down and refi can be included in your list of plans but you don't control this.Think along the lines of move in and turn into a primary, sell off a property, 401K loan, pick up an extra job, etc...

Darryl Lin , I am an investor in the Hesperia market for about 3 years and got few SFR that I am renting, the high deserts is a growing area , although CoCr is around 5-6% but you are betting on future appreciation , LA and OC Market is over saturated with renters , many of them can’t afford rent anymore , so many are moving towards the east , 15 years from now , homes should value in the $500k ( my opinion ) think of it this way , a river with over flown water branching out of its track.

I would move the goalposts from the one you mention, to simply pay off house —> use the equity to buy a rental house, use rents to pay down line, buy another rental with the line and use rents to pay down the line…rinse and repeat.  

Just wanted to comment and say that I'm moving to the Miami area this summer so am new to this market.

Just say it seems like a scam and move on.

If you want to move up to a 75% rule, then give it a try but have reserves ready to cover the gap should it not work out. 

The rate is pretty good though and I might have to move for work related reasons and if thats the case I’d love to keep the NACA loan at its rate without refinancing.

Really think through what you want in life and what you can do with your current and future real estate to move you toward that.