Prospective investors should carefully consider investment objectives, risks, charges and expenses, and should consult with a tax or legal adviser before making any investment decision. 

Readers are advised to seek professional advice.

Any advise would help thanks.

I've been advised to hold each property in an LLC, however I've also been advised that insurance on properties held in LLCs is more expensive and harder to get.I have another friend whose properties are help in a trust.

@Kyle Deutschmann Thank you for the advise!

Since this would be your first deal, I would advise targeting properties that only need a light cosmetic rehab. 

I'd prefer to buy SFH instead of condo, but you'll need to be ready to put some sweat equity into the SFH. if I had to give you an answer today, I would advise you keep renting and put your cash into a mix of securities and bonds to compound your saving.

Rent and refi won't really work, rents are kind of low in that neighborhood.Best would be if I had a crystal ball to make decisions, but as mine isn't working, I'll take your advise on how to decide these things.TIA!

I am looking for an advise on is it better to rent it empty or with the tenant.

Readers are advised to seek professional advice.