I know what my max is to make this a cashflow property but I obviously want to pay the least amount I can get away with since this is really my first time buying a property for the sole purpose of a buy and hold.This for a 3bd 2ba condo built in 1992 with a tax assessed value of about 68K.

@Rich Cee Based on what you described above, this is what interpret when I project the numbers out for what you have available for cash starting out:20% x 10 homes x 60k (min. each home) = $120k.If this is correct, I would find out what the maximum number of mortgages you are able to get with your lender (investment properties) and do the following:1 - Let's say the max is 5, including your own personal residence (also mentioned above)2 - Buy 2 with all cash, then refinance both of them (that makes 3 mortgages you are holding...your personal + 2 rentals)3 - Take the money you got out of refinancing and repeat step #2 with two more homes (that will make the 5 mortgage limit)                  .....now comes the fun part......4 - Find a "Credit Partner".  

Joel,I have used owner financing and standard bank financing (15% down max). I

So lets dive into the details of property:-----------------------------------ACQUISITIONProperty: 3 bed 1.5 bath SFH foreclosure and being sold at $50kAverage resale value = $90k-$100kRehab estimate: $30-35kWill bid on this at $20-25k max! I

It used to be 35% max.  I

Very cool thanks Brendon  and Max, I appreciated

I maxi-trimmed up all the neighbors overhanging trees, Central AC with an attached laundry/storarage room on the side deck and carport, fenced all around with two big sheds that I had built in the back.

The house has never been an official rental before: it was owned by a priest who sub-letted the other portion to a friend.

Yes, it is expensive but after making some mistakes investing in places that I cannot easily drive to (2 hours max), I don't go out of the region anymore.

Good evening Max,I would start by learning the process.