I’m in the process of purchasing a second home in Aspen, CO, which will also serve as my first STR property.

Curious thoughts on the following scenario.Current SFR with $51k loan at 8.125%, just purchased with around 10% built-in equity on the property, $250 monthly cashflow (post expenses).

I guess the idea is to use the equity from one property to purchase the second property, and so on.

Purchase price: $110,000 Cash invested: $45,000 Recently purchased my first house to use as a primary residence, currently I am renovating the kitchen and adding a full bathroom to the first floor.

There are other submarkets of Columbus like upper Arlington that have higher like $500 per square foot but the purchases are tear downs at $200 per square foot so the real exit is $300 or so.

I am 1600 miles away from three residential properties I just purchased in Jackson, Mississippi. 

To be successful as a real estate investor in any form - except maybe purchasing the Vanguard REIT index fund - an investor needs education, knowledge and understanding of real estate principles, real estate law, and real estate finance.  

Hello,I purchased my first rental property last year and rented it out for 10 months.

Although the list may seem intensive, I look at it like this: The total cost of all these items can be much lower than the cost to repair a hidden surprise after purchasing a property to flip. 

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.