The results will show you what makes the most sense. 

Here’s the deal (pun intended):Run the Numbers: If the deal makes sense on paper—cash flow, ROI, and all—trust the math, not just your gut.

That makes sense to me.

Quote from @Kevin Akers: If you have everything else in place (financing, permits, etc) and have underwritten the deal where the numbers make sense you can work on raising the 50K from private investors. 

Any property you get into, though, you should plan to have a good capital reserve account to address the problems that will inevitably come up.If you're looking for properties that have stronger cashflow, I would look toward the South East of the USA. 

I wouldn't pay points unless you are trying to "buydown" the interest rate, which doesn't always make sense, depending on your length of ownership and "breakeven" time.Properties held title in an LLC can offer protection from personal lawsuits, but we still require personal guarantees on our loans.Let me know how I can be of service.ThanksCraig

renting makes sense...

This whole exercise may or may not make sense depending on the reason for doing it.

Now, I have seen some lenders get really annoying about this and require a spouse to be on the loan...so IF YOU CAN find a lender that will allow just you, then that's the route we want to go.Hope that makes sense.

In the meantime they will probably jack up the rate on my extension which makes no sense to me since I don't have a tenant in place yet.