Originally posted by @Barrington Campbell:@Jody do you think it's important that your first property cash flows really well COCROI +8% @ $200+ a month or get started early finding a property that Cashflow okay 4-6% @ $150-200 a month but you gain that experience quicker.I'm in a similar situation as Alexis and want to take action.Barrington, everyone is going to have different goals, but I would take a house that cashflows less and returns more of my initial investment over a house that cashflows more but leaves my funds locked in the deal.

Will see though, this was the rate at the time the process was initiated (working with broker), it has not been 'locked' in quite yet so may vary up or down ever so slightly.

I am looking to refinance to a 15 or 30 year residential mortgage to lock in lower rates, but my usual lender is talking about issues underwriting for a portfolio loan on a 2-unit even if it is owner occupied. 

I was simply going to have an electronic lock on the dividing door (there are 2 separate entrances), and give them access based on # of people.I don't plan on renting them out individually, it'll simply be either access to only the main part of the 1/2 cabin or the entire thing with the number of people. 

Also, I will not want to be locked in some form of agreement with another realtor without knowing their work ethic.

With your time line and wanting to get a bit of experience you'll know by the 6 month mark if you want to refi and lock up the property financing long term or if you want to sell and get out. 

If you're looking to really lock down some good deals, I would suggest checking out the book Never Split the Difference by Chris Voss.

For an anecdotal reference, I just locked in a 3.125% yesterday for my personal residence refinance with no points, and closing costs around $3k.

Ask if the bank/lender can offer a rate lock prior to appraisal and what is their turn time currently. 

But if I can rent with the option to lock in that price and buy after I clear this forbearance, this might be what I need.