Santo, you're right that consistent seller relationships beat chasing MLS listings right now.

For note investors that manage their own resolutions, maintain pricing discipline, and focus on investor-backed loans, this year offers some of the best forward-looking yield opportunities since 2017-2019.But this is not a market to chase.

Refinancing twice in six months to chase rates usually isn’t worth the closing costs unless there’s a clear downward trend.From a portfolio standpoint, I’d lean:- Lock the 5.99%- Keep the HELOC available as liquidity- Let the rental support both- Pay the HELOC down strategicallyThe only time I’d favor cash-out is if that $30K is going to produce a return meaningfully above 6.625%.

What surprised me wasn’t the rankings themselves, but how often the exercise surfaced where my gut feeling disagreed with the data — and forced me to explain why.At least for me, that’s been more valuable than chasing a single “top market” list.I’m curious how others here think about this:Do you start with a preferred strategy and narrow markets from there?

Looking for patterns across several comps instead of chasing one standout sale really seems to keep analysis grounded.

How do you prioritize which deals to chase first?

I wanted to share a recent deal structure that may be helpful for anyone sitting on equity in a high-cost market.A client recently:Did a cash-out refinance on a California primary residenceUsed the proceeds to purchase a single-family rental in MichiganIs closing in early FebruaryWhat made this work smoothly:No relocation requiredProperty manager is picking up keys immediately after closingClient transitions straight into passive monthly incomeNo short-term rental or active management involvedThis wasn’t about chasing appreciation—it was about:Redeploying trapped equityImproving cash flowKeeping the setup simple and scalableI’m seeing more CA homeowners explore Midwest rentals when local numbers no longer make sense, especially when paired with professional management from day one.Happy to answer questions around:Structuring equity deploymentOut-of-state investing considerationsWhat to look for (and avoid) in Midwest rentalsHope this helps someone thinking through similar options.

Fix things fast.When tenants have to chase a landlord for a week just to get a running toilet looked at, they immediately start planning their exit strategy.

Don’t chase cheaper prices without strong rent-to-price ratios and landlord-friendly laws.Fourth, with $150–200k liquid, you have optionality.You could:– Keep current home as primary– Buy a duplex/triplex with VA and house hack– Or use capital to acquire a small MFH that actually cash flowsHouse hacking in NoVA is tough because purchase prices are high relative to rent.Given your early retirement goal (not scaling huge), I’d focus on:– Preserving the paid-off asset– Avoiding over-leverage during income transition– Buying only if the next property clearly improves cash flow or lifestyleYou don’t need to “do something” just because you can.

That means the owner now has to chase resolution, defeating the purpose of having professional support.Inspections are another area where fragmentation shows up.