If interest rate goes down, price will go up, more demand.

If there were an issue down the road, one of the first things his insurance company will look at is the contract.

@Chuck DreisonI have seen them 90 days to 3 yearsWhere I see them more in on hard money loans as some already have interest prepaidThe 3 years were on 2nd position notes which were newly originated and down payment assistance

I would love to get connected with the community down in Dallas!

Add the down payment, and you're looking at a healthy budget.Two problems:You'll need to buy a fourplex or smaller.

Sure you can find better deals, but that is the common one I see.There will be times when the market is great and sometimes when it is down, but very hard to time. 

It depends on how much capital you have but I recommend either house hacking (3.5% - 5% down) a 2-4 unit property or you'll need 20-25% down for a non-owner occupant purchase which comes with higher rates.

I’m trying to develop my overall strategy as I head into looking for a first deal.

If you have a great bookkeeper, that will help keep costs down, but my guess is that he is spending some time cleaning up the financial statements.

After calculating all of the properties, the average cap rate is around 5% and the COC ROI is always negative (I am putting down 25% for a DSCR loan).