It's not the reality for most and if more beginner investors had the correct mindset they would make better and more informed investment decisions.

Given your situation, one strategy that could work really well for you is the BRRRR method (Buy, Rehab, Rent, Refinance, Repeat). 

Also consider your lifestyle and if you want to be traveling 3 days just to check to see if a water heater is installed correctly and your property manager is looking after your property.

Asking in the correct forum will get a better response.Read the RULES!

If you are able to do this at the municipal level and your numbers are correct, this would be a good investment, but there are a bunch of assumptions here.

.: Hello,I have several SFRs that have lots of equity in them and I wondering if anyone used a method of cross-collateralization to pledge the equity as collateral, thus avoiding doing a cash-out refinance or HELOC.

Most fail to paper the contracts, indemnification and additional insured requirements correctly.

Quote from @Bhushan Shinkre: Few corrections, tenant simply decided not to pay rent and took further action of asking for refund of all prior payments (legally made via Baselane), which Baselane paid out no questions asked.

For those that rely on traditional methods and personal experience, I can understand this perspective.

btw you can buy at least 2 properties in Memphis TN with $50K using the BRRRR method.