So one year is often not enough time to build up enough equity (from appreciation) to refinance into a conventional loan. 

Then, closer to the date, you can get a formal preapproval letter. in the meantime, I would look to educate yourself and go to as many networking events as possible to build up your team 

I’m licensed in KS/MO and work with The Bridge Team in KC, focusing on multifamily and mixed-use properties. 

yes, I include vacancy, CapEx, insurance, Property Management fee Here's my calculation:https://docs.google.com/spreadsheets/d/17bm1kwzQrYBfqh_xf2sK...My goal is to build up cashflow for retirement.

I've also seen people say I want $10K as an example in an emergency fund for a property, so they will let the account for that property build up until that point is hit prior to taking any draws from the property profits. 

We've talked about this before - that RE is 1. a great way to build up equity, and then 2. equity can be turned into cash.i do think the refinancing thing has gotten tougher - would you agree? 

I’ve always been interested in the industry, but I’m finally taking the first steps to learn about it seriously.My goal is to build up my knowledge and skills with the hope of eventually turning real estate into a full-time career.I’d really appreciate any tips, resources, or advice from those of you who’ve been doing this for a while — especially on how you got started, what to avoid, and what helped you most early on.Looking forward to learning from you all and hopefully contributing as I grow! 

Buildup cash now.A.  

Even while you build up your savings, learning about lower-cost, cash-flow markets can help you move faster once you’re ready.

The pipes slowly corrode, you have buildup on the inside which restricts flow to the point where you don't have enough pressure at the faucets, they develop pin holes, shut off valves start leaking or seize up, so when you have to shut off water in an emergency, you can't and you are causing more damage.