Particularly if you plan to stay in the military and generate income in that regard, allow the cash-flow, principal pay-down, appreciation, and tax advantages of owning this 4-plex continue to work to your advantage. 

The people signing on the note are called Key Principals. 

If you wait long enough and you have a lot of principal paid down on the property (i.e. you own less on your mortgage) you could cash-out refi even if the rates are the same and the value did not go up.

Chapter 27; $500.2 does not allow for more than one principal building.4.

Just to put numbers to it:Per 100k a 40 year fixed loan at 6.99- $620- first month: 38 to principal and 582 to interestPer 100k a 30 year fixed loan at 6.99- $665- first month: 82 to principal and 582 to interestPer 100k a 30 year fixed loan at 6.25- $616- first month: 95 to principal and 520 to interestAs you take a 30 year loan out to 40 years you experience diminishing returns.

The best way to find and keep truly private individual lenders in your inner circle for the long run is to help them understand how to safely and securely protect their principal investment with you.

My goal is to transition into the principal side of investing as quickly as possible and do something similar to you with out of state investing.

My goal is to transition into the principal side of investing as quickly as possible and do something similar to you with out of state investing.Frankly, it feels like I’ve absorbed a ton of knowledge yet I’m still missing the guidance/mentorship to take that first leap of faith.

But they will definitely count the $1,500/month you are paying on principal and interest as debt when they figure you DTI.SO with all this said using OPM like @William F.

The cash flow is there to cover the interest and principal on the HELCO so the added cashflow from having another property would grow my bottomline overall I believe (please tell me if Im wrong).