A successful rental property should offer positive cash flow, meaning your rental income should exceed your monthly expenses (mortgage, taxes, insurance, maintenance, etc.).To find the right tenants, ensure the property is priced competitively within the local rental market.

It’s located in Midwest City Oklahoma, rent for this house works easily be $850/month.

@Yooni ChoiFor a first property, $100/month in cash flow might not be ideal, but it’s acceptable, especially with a house hack.

BUT if you bought R.E. with that, down the road, it will kick out $ month after month after year after year. 

So, you say will I want to take some cash out using the 200k value but most programs will require you to wait some period of time from 3 months up to 12 months for conventional before you can use that 200k value to pull cash out.This seasoning does NOT apply to delayed financing as I mentioned in my post above.  

For example, my client just closed a 3/2 single family house for $160k that was already rented at $1900/month and near turnkey and in a super desirable residential area.

The systems you have in place to handle leads, follow-up and your sales processes are also huge factors.Another factor is what is your monthly marketing budget?

Repayment options can be more flexible like in my case I do everything on accrual this really helps flippers when they dont have to make monthly payments.

@Edward James smith theres a great meetup at The Black Diamond in Spokane Valley, third Tuesday of every month at 6:30pm. https://reinetworking.com/Reach out anytime, I work with a lot of investors in the area and would be happy to discuss ideas.

It took me 13 months to open a bank account in Belize.