You may want to consider an out of state turn-key rental property. 

The IRS says there is "imputed interest" on a loan if the interest rate is below what they consider an acceptable minimum interest rate. 

It takes less than a day for a seller to consider an LOI. 

However I was curious what other investors would consider an "Average" CAP rate?

As you get more units consider an umbrella as well.

But ultimately, I believe it is the property managers fault; perhaps they were rude with the exchange in ideas over the phone with the HOA which has prompted what I can consider an outrageous and unprofessional reaction from the representative.I think you may need to refer to the bylaws and see what language is used to clarify level of communication in regards to use of property managers as I feel it is bold that they "will not work with Touchpoint Property Management."

Ya see that part of Lakewood is what I would consider an A area.

You might also consider an FHA Loan requires only about 3.5% Down Payment and an overall Out-Of-Pocket of about 7.00% of Sales Price.

Austin is booming and prices are outrageous, but I could consider an FHA to get into residential multifamily at $350-400k at 5% down.

Austin is booming and prices are outrageous, but I could consider an FHA to get into residential multifamily at $350-400k at 5% down.