Yes that’s why I want to hold onto it is obviously because of the rate. 

As long as you are on the loan, on title, and live in the home for 12 months minimum, then your non occupying coborrower can qualify for 5% down at owner occupied rates.

Drop your thoughts, recommendations, or experiences in the comments.Looking forward to hearing from you all!

Here's the breakdown:Financing: We used a seller carry deal with 25% down ($100k), a 30-year term (balloon in 10 years), and a 4.68% interest rate.

Start by deepening your understanding of CRE fundamentals, including net operating income (NOI), cap rates, and lease structures like triple net (NNN).

Quote from @Fernando Martin-Gullans: Hey y’all, I’m a retail investor with 2 SFH rentals worth a combined ~$650k looking to utilize some of my stored equity to buy more out-of-state properties, but I’m not quite sure how best to proceed given that my interest rates are incredibly low (leaning me away from refinancing) and neither property is owner-occupied (which I believe prevents me from using a HELOC).

For full time management rates can range from 20-30% of gross revenue depending on the level of services provided.

Hi Danielle, As a property manager, if you were my client, I would recommend that you incorporate a monthly flat rate utility fee into that tenants lease.

A 4 bedroom would have you competing with larger condos or townhouses with pools, a much lower rate of return. 

You could negotiate terms such as a lower interest rate or interest-only payments for a set period to ease your upfront burden.Lease-Option Agreement: If the landlord isn’t ready to sell outright, consider proposing a lease-option where you continue renting for a set period with an agreed purchase price.