Did I do this right?

[Josh Williams]

The original plan, and hopefully still is to cash out refi current home. I can cash out 90%. Currently owe 101k and would refi at 135k with 3.73% APR. Leverage equity into another property down the line after getting tenants. Reuse VA for a primary residence.

The Mortgage+ Tax&Insurance=$770 monthly

Projected rent $1100 monthly

Monthly total for later maintenance and vacancy 15%

$1100-770-15%=$3366

$3366/135k= 2.49% CAP ?!?!?!?!

Home is currently worth $150k

Did I do this right? Is it even worth it?

Please help.