Quote from @Paul Lucenti: Would you rather have monthly cash flow or would you prefer a quick pay day after 3-6 months?

Meaning you can spend the time traveling to the market(As we did for 18 Months once per quarter) or you can seek a reputable operator in the market you want to invest in and leverage their team. 

Three Months ago, low to mid 6's were available.Rates are going to continually fluctuate but if you have a way to earn 10+% on your capital, the TIME you are not using it is going to cost you way more than the extra .5% per year will.You are walking over dollars to save pennies if you are waiting for the perfect rate, half of the people who held out on getting mid 6's were waiting for high 5's.

We tried having the smallest washer/dryer installed, but the install team couldn't make it work.

This would allow me to stockpile rental income until I’m ready for the next investment, giving me more flexibility in the long run.Thanks again for your insight Yeah, I think a 15 year or 30 year loan is a better option because the interest you pay every month is lower and also you can pay it off in a short period of time if you want to.

Keep the bank as the mortgagee on insurance.Since you are rehabbing, you should be done in 3 to 6 months anyway.

So your debt is currently $3000 per month and your property earns you $1000 per month? 

I just moved a kid out last month after just five months in the rental because he was problematic.

One of my recent favs is someone who's Instagram profile read  something along the lines "0 to 500 units in 6 months".

Just like how Johnson & Johnson or Coca-Cola send you quarterly dividend checks, your tenants are sending you monthly "dividends" in the form of rent.