Interest rates are high today, but do I wait and buy when rates drop or wait when prices jump? 

Funding: my plan is to shop around hard money lenders for purchase and rehab for best rates/fees/down payment.

I know that is a bit blunt…but really the only reasons.That being said, the reasons why it is fast and cheap are of course a bit more nuanced as I am sure you are aware, and the implications of those costs and time delays lead to an even more delicate conversation.

@Gerald Maczuga,The Long Term Capital Gains rates for 2024 include a 0% bracket for "married filing jointly" that caps off at $94,050.  

@Vicente HernandezReal estate agents tend to prefer property management firms that have clear payment plans, fair commission rates, an easy referral system, prompt payments, assistance and tools, and a good standing.

BUT I also know that I probably won’t get such a low interest rate again in a very long time 😅 so I don’t know what to do.

This sounds like it would possibly be a rate and term refinance since your balance will be $203,000.

Who knows, the next great strategy might just come from this very conversation!

This will be my first rental property so want some advice.Purchase price - $195KDown payment - $59,176 (25% plus other closing)Annual rental income - $29,424 ($2,452 a month for 4BR)CoC return 10.7%Cap rate - 9.7%; Price to rent ratio - 6.6Cash flow will be over $5k per year after paying taxes and mortgage.

Your tenants will either pay market rates or move in with family.