Many new investors get drawn to real estate because they want to improve their financial picture. 

Looking to buy/ invest in air bnb in Indy

If closing for the cash-out refi is completed at 6 months or greater than the date you purchased the property, it would be eligible for value to be determined with a new appraisal, which of course is beneficial if you have done any work to it to improve the value. 

Max leverage would be 80%, with rates improving at lower LTV.Banks and credit unions are still offering strong rates on stabilized multifamily in the high-3's / low 4's, 75%+, 25-30am, burnoff or non-recourse, but may have less strict requirements than Agency

I personally have done live in flips where you buy a decent house and improve the value.

Hi @Mike Mefferd, I think that it is wise to consider all of the different options to improve NOI whilst also gaining a marketing advantage of being environmentally friendly.

An informal rule of thumb I've found is that if two months rent is greater than property tax and insurance combined, the numbers usually work well.A couple random expenses I've had from my two properties since April (after tenant moved in):Central air issue, broken screen on screen door, lack of hot water in shower, clogged drain from toiletI'd be careful in renting to a friend. 

I got the already great price lowered a little more as it needed a new Central Heat and Air unit right after purchase which was a pretty big expenditure.

I'm always a fan of improving poor credit scores.

It's almost like Air BNB but without the worry of payment as you know you are guaranteed.