Whether you are investing for Cash flow, appreciation, looking for value add, or just tax benefits.I first build out my buy box, which the more narrow it is, the better (multi family, 3 units, in XYZ zip code, at this price point per sqft, build after XYZ year......). 

I usually search through listings to get an idea on cap rates to narrow down states or cities.

They can also make yield spread. 

And investors simply are too narrow to buy if RTP doesn't strike.

The seller benefits from the spread between the interest rates of the old and new loans.Agreement: Ensure a clear agreement on who will be responsible for the existing mortgage payments and how any arrears or defaults will be handled.Seller Second Mortgage:Structure: The buyer gets a new first mortgage to pay off the existing loan and a second mortgage held by the seller for the remaining balance.Consideration: This may require refinancing the existing loan, which can be costly and may change the loan terms.I hope this helped.

Quote from @Connor Golden: David's book is a great start.I think it's important to narrow in on a market, then look for a solid Property Manager.

I don’t think you can narrow down Cincinnati by zip codes and more have to focus on the area as some zip codes can have a variety of areas.  

A/C vendors make a lot of money on spread, so keep asking. 

Better than the alternative of having a line of credit at 12%, the 2-3% hit in spread is lower than a 5% increase in cost of capital in my opinion.

lets say heloc rates are at 9% and deal is 15% coc, its a 6% spread Would youd do it?