What are the rates if you’ve done one recently?

However, the rate is higher and the capital paydown is significantly lower than the Las Vegas property.

Here's my perspective:The current rates are historically low, we all got spoiled by free money during the 2%-3% mortgage rate era.

Higher interest rates and shorter terms are part of the deal, but they can get you that quick cash you need for the purchase and rehab.Then, there's private money, which might come from individuals like your dad or other investors looking for a solid return.

Some important obsverations: Navarre Beach has the highest occupancy rate, 70.3%.Okaloosa Island has the highest number of listings with +30 reviews in the past 12 months.Pensacola Beach has the highest average daily rate, $295 on average throughout the year.The average stay is about 5 days per booking in all three communities.

At what rate is your local RE market appreciating?

We here at BiggerPockets have heard for years, even before interest rates went up, that deal finding is a top challenge.   

I don't think we are going to see rates below 5% for a long time so if I were you I would keep it. 

I found a property that cash flows around $100-$150 in Bakersfield, depending on the interest rate, but I am wondering if it is a good idea to take this and run with it as a first rental, in order to be able to cash out refi in the future to be able to put a bigger down payment on a mult-family property.

My first house was expensive , rates were high , it was $51K in 1984 .