I don't suggest buying down a rate unless you need that lower rate to qualify for the loan, the effect of a buy down usually takes 12 to 15 years to break even, longer economically. [...]That's one of the reasons why I respectfully declined several offers for refinancing to a lower interest rate.

I respect everyone's business structure.As far as local or out of state: I think there are pros and con's for both.  

As background: I have 4 multi-unit properties, each with 4 units or less.I would consider them all to be "B" grade properties with very decent / respectable returns.What I love most is that they all qualify for Freddie/Fanny financing -- Rates are incredibly low and I love the long-term predictability cash-flow requirements for a 30 year fixed mortgage.

I've seen several posts lately about the number of 1-4 unit properties one can finance with Fannie Mae and Freddie Mac, and their respective guidelines.

If you approach the subject from a respectful standpoint, those who are still careless with their items also wouldn't have anyone to blame but themselves.

I tithe, so the first thing I would do is to donate 10% to my church (30k).Next, I would put 20% into my emergency fund (60k).I would then allocate 10% (30K) and 15% (45K), respectively, into my short term savings account and investment account (index fund).With the remaining balance (~135K), I would look into purchasing at least one flip and one b&h property.These allocations assume 0 debt, of course.

I'm finding your millages to be 8.06, 9.84, & 4.73 respectively.

I have a friend that is much farther along in this game than I am, and I have a ton of respect for how he has gone about doing business in real estate.

@Justin Young, respectfully, they're just what they sound like.  

I have to admit, I'm a bit shy with respect to Social Media and so I've been doing quite a bit of studying/reading/podcast listening over the past couple months and have been hesitant to reach out on BP until now.