We have owned our current home since 04/2003 and the current plan is to keep this home as our first rental.Basic details on the property in question:SFH Built in 1986. 3 BR, 2 B, 1,694 SFPurchase price in 2003 was $124,900Tax value is $137kAppraised value (personal estimate) is $165kLoan balance is $57k (refi on 15-yr note in 02/2011, overpaid heavily to this point)Monthly P&I is $677Yearly taxes are $3,100Yearly H/O insurance is $1,000House is very nicely updated throughout (I've updated constantly since we moved in 13 years ago).

Just keep in mind that the number of new investors heavily outweigh the number of experienced investors in most of the Ventura County REIAs we attend.  

Borrowers should expect lifecos to hit their allocation targets earlier in 2016 due to the absence of attractive CMBS debt.In summary, financing is readily available for multifamily properties in most markets, and lenders will continue to compete heavily for higher-quality properties and borrowers.

I get numbers for all 3 approaches but weigh one or two of the approaches more heavily based on the circumstances and what makes sense. 

At least one, almost always involves the seller providing financing for the deal, and is usually my best offer (structured heavily in my favor...better terms, rate, amortization period, etc.).  

Just let me know if I can be of any assistance.Hi @BillManassero, based on my research so far, the Southern California is pretty expensive and difficult to get started in, so I'm heavily learning towards to out-of-state investing. 

The person did some "repairs", and during the next rain, instead of the ceiling having the dripping issues, the water seems to have started running down the side of the wall (evidenced by the paint bubbling)l.We left the apartment very clean, and move in ready, apart from some smudges on the tile (It was raining heavily the days we moved).

Pros:Fewer days on the market (aka reduce vacancy) from additional marketing time and lining up the tenant before the existing tenant has vacatedStaged homes rent better than one w/o furniture (although rare the tenant has good enough style :))Ability to perform an informal "move-out" inspection, which provides a better idea of the turnaround time before the new tenants can move-inTenants may tidy up the place a bit and get a head start on their move-out process (rare, but worth pointing out)Cons:Reduced rent --> assuming some of the above bullet points are a stretch from reality (aka staged home and tidy up the place), the clutter and style may detract tenants from wanting to move-inInconvenience to the existing tenantsCoordination of the showings requires contacting the existing tenantsI know many SFH will list the property while other tenants are in it, but you must take it on a case-by-case basis, and it's heavily dependent on the existing tenants.

I was heavily leaning to a cash out refinance.

I'm starting to notice it everywhere.In downtown Louisville, there are several prime spots that are vacant in highly visible/heavily foot-trafficked areas of downtown - namely Main and Market Street.