Quote from @Zach Howard: Quote from @V.G Jason: Quote from @Zach Howard: @V.G JasonTo someone just starting out (only option of OOS) who can get access to 200k, but no additional financing at this time but an additional 50-100k max in reserve cash, where might you recommend they start - markets/property type/strategy?

Yes this method only works if #1 You make more money than you spend#2  You are willing to spend less than you make.#3  it works because people don't have discipline to pay their mortgage beyond the minimum.  

Based on what my real estate agent thinks that this quote will be, roughly, and the after repair value, it looks like I could buy this property in cash, spend a month or two fixing the damage, and then put a mortgage for roughly 1.6x what I paid for it and thus have a cash flowing property at a few hundred dollars per month and a little more money in my bank account ready for a down payment on the next deal.

It seems not the best way to spend money.

Better to spend $60-80k for a conversion than over 120k.  

My budget is in the $200-250K range.Please feel free to let me know if additional details would help, and thank you in advance for your time and advice! 

@Fulati Paerhati, sounds good, I sent a connect request with some additional information for you to consider.Look forward to connecting.

Not a big fan of LTR furnished units, the additional wear and tear isnt worth it in my market and of course smoke smell can be hard to get out. 

So far, nothing.The point is that I believe people spend a lot of money, time, and effort protecting themselves against a non-existent threat.

Your best route might be to buy a 2 to 4 unit property that you can live in and rent out the additional apartments.