I have a huge problem with new investors thinking they're going to have $300 a month in cash flow only to end up in a pinch with the truth rears it ugly head.Having tenants "buying you a house" is a great thing, too. 

Don't pinch pennies, make millions.

I can always pay more, but if I ever get in a pinch the smaller payment will help out.

Mostly I got a "call me back when you've got some real numbers" response, and of course, I couldn't have real numbers til after the fact.BUT I could, in a pinch, pay to close on the property using my Heloc and personal funds.

Time is money so paying to get the job done right and done efficiently trumps teaching life lessons or trying to pinch every penny out of a rehab buying doing work yourself.Thoughts?

If you are young (I'm 34) and you have a reliable W2 job that can bale you out in a pinch (I'm an RN so have excellent earning potential and job security) then be aggressive with leverage.

I still pinch myself because it's hard to believe, myself. 

HOWEVER, pre-tax investing blows away both, and company match pre-tax blows pre-tax investing away.Therefore, as long as you have a job, I recommend the following priority, which I've done for 20+ years:1) Pick a couple luxuries in life that you don't have to pinch pennies on.

If I ever got in a pinch, I feel comfortable to know that I can tap my homes equity at 3.75% (current rate) versus using credit card debt at 18%+.  

I know it's not always best to pinch pennies, but that's part of how I've gotten to where I am today... one time fees are one thing, but those monthly pennies add up over the long run.I think I'll start the Rentec free trial and compare the user friendliness.I looked into the Rentalutions.