You could also do a cash out refi.

The operating LLC doesn't own any asset, just liquid cash that is rental income from tenant and expenses against rental properties.

So the idea of doing this all from afar is a bit daunting, however, I know the most important thing here will be to create a great team and outsource as much as possible.I have set my sights on a couple of different markets being in the Southeast and the Midwest; these markets seem to provide the cash flow I am initially interested in generating to value add to the properties I purchase.

I went all in, I had a few 401K’s so I cashed in the one that was growing the slowest and took the penalty and purchased my first property.

Here’s why Oklahoma might be a great market for you:Affordability: Properties in OKC and Tulsa are often under $200K and offer strong rent-to-price ratios.Landlord-Friendly: Simple tenant laws make managing rentals easier.Growing Economy: Job growth in energy, tech, and aerospace fuels rental demand.How to Evaluate Deals:Run the Numbers: Ensure positive cash flow, check cap rates (6–10%), and use tools like the BiggerPockets calculators.Find Deals: Network with local wholesalers or agents, and look for value-add opportunities in stable neighborhoods like Edmond (OKC) or Broken Arrow (Tulsa).Let me know if you’d like tips on analyzing properties or finding deals!

That being said my residential rental will have a positive cash flow of $500 and I plan to rent out this other side of the duplex immediately and will have a balance of 600 to cover for the mortgage.

Cash invested: $60,000 656 sq foot, 1 BR Condo What made you interested in investing in this type of deal?

Here are a couple of ways you could structure the deal:Lease Option with Seller Financing: You could lease the property with an option to buy later, allowing you to rehab it while giving the sellers time to find a 1031 replacement property.Seller Financing with Deferred Payment: Structure the seller financing with no immediate payments, allowing you to refinance once the property is appraised, and the sellers can complete the 1031 exchange when ready.Escrow Holdback: Transfer the deed into an escrow account, giving you control without immediate transfer, so the sellers can take their time with the 1031.Third-Party Facilitation: Use a qualified intermediary to hold funds and facilitate the 1031 exchange while you refinance.These options allow flexibility for both you and the sellers.

Purchase price: $932,500 Cash invested: $450,000 20-unit building converting from LTR to fully furnished MTR/STR.

Purchase price: $115 Cash invested: $17,000 This is my first fix and flip.