As much as I have to hedge my bets and make my capital s t r e t c h for all it's worth to live on the cash flow, the times I've made giant gains were always in the appreciation markets...So if you feel you actually have a cash flowing property, and your income is strong enough to carry it without stress if you weren't conservative enough in doing your numbers, get anything you can in BZN I say and watch it go through the roof over time. 

Good luck, don't stress much. 

Not impossible to image you could do that if you're able to increase rents, decrease expenses, and compress your cap rate through the reposition.

Meaning increases in rent or decreases in other expenses.

., If they beat the deadlines they can earn more interest in the deal and if they don't meet deadlines their ownership percentages decrease).You do not want them to suddenly get a big job, and then your investment (and money) becomes their side project.They MUST have some skin in the game.

When I was in CT once in a while we would have a massage therapist came into the office and for a day and I used to get one here and there whenever I was so stressed out. 

@Dan Heuschele That's interesting that you do rent surveys regularly to decipher what qualities in a property are correlated to increased/decreased rent.

I learned to not stress about something like that and accept that if we needed to delay closing we could.

I tend to be conservative overall, but if you are pulling out enough cash to purchase and renovate another property, AND you have another property or know there will be another soon, then you will be in a better position buy having 2 properties, with one owned in cash, more than likely.If rates on 3.25% and you are doing 30 yr fixed mortgages, every $50,000 loan increase/decrease will cost/save you $217. 

I have a habit of being very reactionary in stressful situations so my hope is with more knowledge that I can condition myself to avoid overpaying.