My goal is to purchase 15 units in the next 5 years, and produce a cash flow of $20k per month within the next 10 years.  

I plan on renting a unit and probably getting a roommate or two in my unit to maximize cash flow early on.

Assuming you purchased in your IRA for cash as most do, then there's nothing to deduct or depreciate because the income is non-taxable inside the IRA already.

@Cosmo DePinto,I’ve seen investors do great in Huntsville—let me share a few detailsIn short, yes—it’s arguably one of the strongest markets in Alabama for a balance between cash flow and appreciation.

Once you have cash in hand, you can unlock the unit for 24 hours and let him move his stuff out.I would also consider charging an additional deposit of $500 or something, just to prevent him from leaving all the trash or stealing your refrigerator.

My concern is doing the cash out refi on my other rental and causing a new and much higher payment on it that I can't just pay off like a loan.

He was a realtor based in the Midwest (I think the greater Chicago area) and was talking about off vs. on market deals and the importance of choosing equity over cash flow. 

I would also ask them about cash for keys since I would initially offer the tenant this. 

Run the comps, calculate repair costs, and plan multiple exit strategies so you maximize every deal—whether that’s wholesaling, flipping, or holding for cash flow.

But truly wholesaling is a hard business and takes a lot of up front cash to get going before you get deal flow.