When to buy next rental property ?

[Alan Hicks]

What point do you start looking for the 'next rental property'?

I have 1 rental now:

Value = $135k

Balance = $100k

Equity = $35k

I put down $25k down, so really only $10k equity.

Mortgage, Insurance, Taxes = $900.. rented at $1150.

So that's around 12% coc.