It’s simple but I think there is merit to it.

This excludes areas like CA whidch is primarily faith investors.Ideally you want the minimum amount of your own cash sitting dead in a property that will produce a descent amount of positive cash flow on it's own merits.

A Non-Accredited Investor is anyone that does not meet the above standards.A Sophisticated Investor is a type of investor who is deemed to have sufficient investing experience and knowledge to weigh the risks and merits of an investment opportunity.SEC Rule 506(b)*Permitted Investors: Accredited Investors and up to 35 Non-Accredited Investors, as long as the Non-Accredited Investors are “Sophisticated Investors.”

That way you can see which is stronger on its own merits.

Whether it's your first or your 50th each transaction stands on it's own merit. 

@David KendallI'd listen to the investors in the area that are pushing you toward townhomes and while I don't want to sound disrespectful,  just because Fairfax is one of the richest counties in America and Silicon Valley prices are 3 to 5 times what they are here, that information has no bearing on your situation or local appreciation or local rents.Assess the value of the condo in Springfield on the merits of the individual building because that's what you're going to be working with. 

But as you can imagine in a hot market it can be difficult to get sellers to go along.A process called a reverse exchange could work for you if the potential tax merits it.  

s merits.)

An online school/program would be closer to a book so I can see some merit there as far as time commitment. 

Is there some advice out there from lenders who will look at a cashout refi on the merits of the investment property itself and not my own personal income?