I have around 8k saved up and my goal by the end of the year is to close on my first rental property!

Get yourself known, it all ends up there, people needs to know who you are and what you do.

So it may end up costing you $400k within 30-60 days without any financing options.How do people overcome this when you do your due diligence?

Last time when I called everyone I ended up with them.

Triple net lease property at the end of the lease periodwhat do you think? 

Would love to learn from your experiences.4.

I think a great strategy would be to find someone who would like to house hack with you, and maybe even someone with a bit of experience local to the area that you trust and know very well to go in on the deal with you.  

My last few BRRRRs I ended up with negative equity, even though after a full gut rehab, still worth it in a market full of old houses. 

@Juan Mendoza My experience has been way different than the previous two replies.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.