However, if you plan on using the equity through a cash out refinance to invest in something else, this is another story - you can use leverage do buy more properties and scale you portfolio.

We plan on using the VA loan and to buy down points, at least 1 percentage point worth.We’ve considered a house at a lower cost (250-350k), but they generally need some work (kitchen/bathroom renovations).

@John SeitzAirport Appliance Stl 8925 Natural Bridge Rd Saint Louis, MO +1 (314) 801-8677River City Appliances816 Lemay Ferry RdSaint Louis, MO 63125+1 (314) 885-8374St Louis Appliance Outlet2253 Administration DrMaryland Heights MO 63146+1 (314) 932-0123

So that begs the question, do any of you have an exit plan?

Once you have systems in place and have developed standard operating procedures and a plan for management you will be fine.

Thanks for you quick reply. i rally appreciate it .I am planning to amend my 2022 return , and that's why asking this question .

I would personally have a backup plan in place if the notes are called or anything goes south with the Mortgage companies.Feel free to reach out if you want to talk.

Am planning to acquire more in same neighborhood and just wanted to know if my experience was the exception or the rule, going by the list @Chris Dawson published.

Once you own here and a few years go buy, you'll feel incredibly blessed to have your own property both in terms of cash flow and appreciation.There is a saying of owning real estate here:  "It's the bay area retirement plan". 

Have a clear plan.