Assuming of course that your budget is ok with that approach...you'll have to run the numbers and see how long it takes to make back your investment, and if that is in line with your future plans....

My wife and I had our first brush with real estate which came through purchasing our own home, and it sparked a fire within us to build a sustainable portfolio that benefits both future tenants and ourselves.

If property value comes in lower than expected and the LTV changes, interest rates can change.  

Originally purchased for cash flow, this property exceeded my expectations by appreciating roughly 70% over five years, jumping from $130k to $220k.

If your credit score is better, which I expect it is, if you've saved 20% of $300K-400K, then chances are you will qualify for some kind of conventional loan with 3-5% down potentially. 

In such a hot market, expediency is such a valuable commodity, and being able to close promptly will greatly increase your reputation for future dealings in your market.Good luck.

Some cities have Future Land Use Maps available on their websites and if that can give you insight.

Affordability makes these markets key attractions, compared to the national housing landscape, combined with expected home value appreciation and the rapid speed of home sales.

Expected interest rates between 13 and 15% percent with points added

Currently, I have a single family property that I closed on in early 2024 and am working with a property manager to find renters (was told that this is a somewhat slow time of year in Minnesota due to the weather, but should expect more movement in the coming weeks).I used a HELOC for the down-payment and a conventional for the other 80%.