I guess I was more interested in what criteria constitutes a good deal...should I be more concerned with getting 100% of my cash back or in the after refi cash flow number?  

I now a few people who have done quite well with "serial house hacking" , i.e. living in a place for a year or to to satisfy the owner occ loan requirements and then converting to a full rental and moving on to the next house and doing the same.Takes a bit of a strong constitution - dealing with moving every few years would get really tiresome - but you can definitely build a portfolio on a budget that way

I'm not sure if this structure will constitute "prohibited transactions" under IRS rules.

I will contribute funds for the rehab which constitute approx a third of the total investment of 300K.

A few years ago, 1851 Center for Constitutional Law, (https://OhioConstitution.org), is the first law firm I heard about that took up the mantle to fight the government on behalf of property owners over what really is nothing more than a new tax on Landlords under the guise of "We're doing it to protect Renters from Slum Lords".

You have a couple options (please don't constitute this as legal advice). 

.- Jason C Thanks so much for your input and help, As mentioned I am in the South Florida area so not very familiar as to what constitutes anything off of Riverside Drive, or what the downtown area constitutes but as long as I am in the 31204 zip code should I be ok?

Except as otherwise provided in the Oklahoma Residential Landlord and Tenant Act, if there is a material noncompliance by the tenant with the rental agreement or with any provision of Section 127 of this title, the landlord may deliver to the tenant a written notice served as provided in subsection E of Section 111 of this title specifying the acts and omissions constituting the noncompliance and that the rental agreement will terminate upon a date not less than fifteen (15) days after receipt of the notice unless remedied within ten (10) days.

@Mauricio Ramos, As a real estate sponsor/syndicator, I will caution you NOT to give potential investors any advice that can be constituted as being in the area of financial planning, tax advising, or investment management.

Acceptance of monthly rent payments constitutes a legally binding, month to month, ORAL lease agreement.