Do the math now, and if it makes sense under the current high rates than you will most likely be fine down the line. 

If you can't keep control of your personal finances, you are highly unlikely to succeed in real estate investing.

I have searched high and low for information on this and I ended up here unable to find any real information on the subject.

What you are describing is similar to telling the power ball winner not to take his 50 million lump sum, and spread it out in installments so he can get more.

And it also accomplishes what your friend was saying in adding numbers to your portfolioMany investors will use a BRRRR framework along with periodic 1031s to maximize available cash and buying power.

So add 0.25-0.5% for a high LTV, another 0.625% for 2-4 unit and 1.0% for high balance (I assume this falls into the high balance category) and you're right around the rate you were quoted. 

The other considerations noted by other posters are valid, but when you weigh them against the high risk of extended vacancy, ending at the beginning of winter is to be avoided at all costs.  2 months of added vacancy is a 16.6% loss to annual income. 

I am wondering with what high population growth with this town and the area around it if it is a good start to purchase a townhome that I would be renting out.If needed any town within a 100 mile radius of there I can venture out to.Thank you!!

The question is, do you have the staying power to weather a multi-year storm? 

The shortage/high prices seem to be everywhere - urban/rural.