@Arun V.If OP doesn't have to pay capital gains tax or has to pay only half it probably is a sweet deal especially since in this market with rising interest rates it probably is a good idea to exit as the price may plateau sooner or later but great point 👌nevertheless and very interested to hear @Joe Villeneuve comments on this.

I closed on a deal for a duplex last month where I convinced the seller to give me terms on a 10 year mortgage which I plan on refinancing on much sooner then that.

The higher ROI has better long term benefits but if you are trying to go more passive sooner, maybe the other option is better for you. 

Often the fee is one month's rent, so it makes financial sense to break it early and buy a house sooner.

I knew I was going to refi sooner than later.

I knew I was going to refi sooner than later.

I'd say for you, continue what you're doing and maybe even consider a cheaper market if you want to buy sooner.

All that being said, the sooner you start the better, generally.

I'm sure sooner than later this will be a real thing.

Don't be afraid of looking at properties that hit a lot of your criteria but may have an acquisition cap rate below your desired threshold, you may be able to achieve or exceed the desired value within 12-24 months or sooner depending how much upside potential there is.