You can get CD rates at local banks or credit unions at around the same rate too. 

@Luz Pagan this is pretty typical in a hot market if you are a new player on the scene. 

I feel that im getting to know the larger players in the market by doing that. 

No, you cannot, there're very specific rules against it, despite the YouTube webinars encouraging you to deduct them (the symphony players lost a court case against the IRS trying to deduct their performance tuxedos)and so on.I know it's tempting to think you're sticking it to the IRS, but in the end they will stick it to you.

The Columbus market has been crazy and I know a large number of OOS investors are testing the waters, so just make sure you are ready to move or you will find your calls go unreturned as A players don’t have the time.

It will be out of state so I don't want a C, D, or F property giving me headaches.

If you want to jump into a single family home in the Midwest at cash then I would wait as you'll be buying a C-D class property at $40K.

NEWS: I just got the fee reduced to $55 per player now.

Of course building large apartment complexes is a big endeavor, but if there are a lack of apartments, I bet renters would love some nice quads nearby built by smaller players.

This can help set you apart from many other players in your market.