when I find a property, do the math with a 30-40% down, I barely cash flow, break even, but mostly will pay out of pocket. 

Tighten up your lease so there are some consequences for breaking rules.

@Hattie Dizmond  Thanks a lot for that 7 step break down.

However, I was a little concerned when she asked if I my goal was to break even each month on my rental property.  

I have a break lease clause. i would remind him about the clause, offer him the second apartmetn for same price but not as nice.

Ask around as all banks won't do them, they should be classified as a commercial loan, but definitely there will be some.Make sure when setting it up that you are able to sell each of the houses individually within the blanket and they will allow you to get a clean title without breaking the blanket loan apart.  

On a $650K ARV, that's not much wiggle room, and you could easily find yourself at break even or underwater.

You may be able to break it up into manageable bites so that you're only flying out a few times.  

It takes some time, but it can make or break your investments.... and when you put a great team together, it's amazing what can happen.Btw, you may want to look into a series LLC - I know some investors use them extensively in Chicago for all their holdings. 

I have 1 rental property right now from 2007 that barely breaks even (obviously not the best time to buy.. ha).