Interest rates are high and prices are high.3) Yes it can be a great way to start snowballing money, but remember some critical parts.

Namely high prices compared to returns in multifamily and also high interest rates. 

My goal is to find a good neighborhood with a high occupancy rate and decent daily rate. 

Then with interest rates bounding upward, you and your buyer-customers are faced with ever higher financing costs...

.: @AnnMarie BacchusMy friends who actually own 1 or 2 rentals said their CPAs (one was with H&R Block) who charge reasonable rates weren't very good. 

Sometimes interest rates go way up.

The best mortgage rate for your investment property that is available to the general public is going to be in the form of a conventional loan.

Spreadsheets don't paste well here, but here is what I'm looking for: Net CFs From Investment 1yr exit Net CFs From Investment 3yr exit Net CFs From Investment 5yr exit Exit Price Gain on Sale Cap Rate IRR Estimated Exit Price/Gain on Sale - 1 Yr Annualized IRR - 1 Yr Estimated Exit Price/Gain on Sale - 3 Yr Annualized IRR - 3 Yr Estimated Exit Price/Gain on Sale - 5 Yr Annualized IRR - 5 Yr Thanks!

As far as your rental that you currently own, I would change your expectations a little bit, 80% cash outs are hard to come by these days and the rates on the few products available are really high.

It's a 12 year term with a 4.75% interest rate with $175,000 down.