I do plan on keeping this long term and my understanding is I can always refi it into another loan.

Never did anything to the back wall, likely does not understand that the wall will fall off, but not my concern now.  

I agree that approaching business from a point of view that understands business tends to ebb and flow naturally no matter what business it is, is a mature way of facing day to day operations.

Cap rate is the standard used for large multifamily - 5+ units.

By learning from the mistakes and oversights made during our journey, future home builders can embark on their projects with a clearer understanding of the potential challenges and how to navigate them successfully.Learn from the mistakes of others, it's cheaper and less stressful - Nick 

I've been trying to understand what opportunities there would be to find a lender that would be willing to take a second position on my primary residence in order to finance an investment opportunity.

If you’re looking at San Pedro or Ambergris Caye I would make sure you understand water, sewer and golf carts infrastructure and permitting.  

I would add that even though MPLS doesn't have rent control, it has tenant rights ordinances and if you buy an investment property and raise the rent on a current tenant within the first 90 days of ownership, you "may" have to pay them relocation costs due to the increase in rent so be careful to understand MPLS statutes. 

Rather than pay off your debts, you could take your initial seed money to invest with a rate of return.The big thing right now is just understanding and ensuring your rate of return on any investment you do with the cash on hand is higher than the interest rate of what you are paying off.

I do understand that rental properties are a function of appreciation but wish to know what would be the best methodology to understand the overall negative cashflow to asset appreciation ratio or a metric to benchmark it against e.g. % appreciation YoY.