We still find deals here that meet the 1% rule, positive cash flowing, and have tons of potential for appreciation.

Throwing money into a property is easy; throwing money into the right property, then managing it well is the hard part.1.

Compare that to Vegas, where rules can be restrictive and condo-hotels often come with sky-high fees or limits on how you can use your property.

I do believe we have the greatest, fairest, and most equitable system when everyone is being honest and playing by the rules, and acting in an ethical manner.

It's pretty rare I see any that is super easy and the cash just keeps rolling in. 

@Michael Palmer As a general rule of thumb bank originated construction debt will be WSJ Prime +1 point with a floor, 1 point origination and 75-80% LTC while meeting certain LTV thresholds (normally 70-75%).

Warning: Schedules C claiming expenses without any income are not against the rules, but they are IRS audit flags. 

I am the only real estate investor with my bookkeeper and at first she thought this was a little overboard but once she started setting rules in Quickbooks to simplify her work she quickly realized how simple this method makes things.

There are a few other options as well that can be taken to escape the FHA to Conv. 12 month rule.

A good rule of thumb is to keep 3-6 months of operating expenses in your rental account as a cushion.Once you’ve got that covered, you can start investing the excess.