Big banks have dramatically changed in the last 30 years.

I transitioned from single family after BP Con last year. 

However, in the last year, two major issues created a cash crunch.1. +30% vacancy for 24 months, caused by two evictions, one unit on market for 7 months, and the two new properties taking 1 year in renovations instead of 4 month estimate (~$30k of lost income above assumption of 10%)2. $45k from several unexpected large repairs (water leaks, roof collapse, siding rot, plumbing main line, etc.)These issues are also causing me to rethink the assumptions in my model, increasing my vacancy rate from 8% to 12%, repairs from 5% to 20%, and capex from 5% to 20%.

We also saw a decrease in Mortgage rates the last few weeks.

How long is the rate good for?

According to this Gallup survey, real estate is the most trusted asset class no matter the household income level of respondents. 

Something I am currently interested as well.4BR/3BA SFH (possibly smaller if the numbers make sense)Between Kissimmee & Lake Nona area (not something like pine hills)30-45 minutes to Disney & tourist areaNo HOA or low HOAMust allow a short term rental (open to long term rental if the numbers make sense)Last property I was interested in, I found out that it only allowed 7 month leases for rentals.

What strategy are you going after and what are your long term goals?

I haven't done a deep analysis on Cleveland, Montgomery or Buffalo, but I would think they likely qualify at least for the type of long term, cash flow investing we aim to do. 

The last rental I posted, I had a woman apply and found out she had stolen someone’s identity when I was working through the background.