It sounds like you have a solid, strategic approach, especially with a focus on value-add properties in appreciating markets.

That’s your home mortgage interest as well as property tax and insurance for 2nd half of the year.

@Marc DeLeonibus Hey Marc, I did not end up purchasing the property.

I currently have a client looking to purchase their first investment properties here this year as well as in other Midwest markets that are also showing some of these same factors coming to light.Another thing to consider is that OKC is home to nearly 20,000 military / government workers with Tinker Air Force Base and the Army and Air National Guard posts there. 

Then look at places where you can buy those properties, and last investigate with HUD what is the section 8 rental in those areas.In that way, you will collect a lot of knowledge in the process.

I use a property manager there. 

Quote from @Brian Clark: Looking to network in Southern Maine to learn and share about long term rental properties. 

It gives you one property that can potentially pay for itself while putting a roof over your head and giving you experience as a hands-on landlord.

We currently have a construction loan on the properties and we would like to refi to a more conventional loan.

I found the property.