Seller won’t budge on price and it will be tight for cash flow.

I am definitely conservative and plan to keep my job until the REI cash flow is proven for income.

Hey David - couple of suggestions below:As a first timer you will likely be required to bring a bit more cash to the table. 

You do have to purchase at least as much real estate as your net sale if you want to defer all tax.TICS are generally cash deals. 

If you math it out it is probably unlikely that you will be cash flowing on a property that you are using 100% leverage on from a turnkey company.

Seller wants $160,000 cash out which leaves $50,000 in equity for the buyer.I had a taker from CA but he couldn't come up with the cash.I was not aware of anyone that understands that kind of deal.  

Purchase price: $98,500 Cash invested: $15,000 owner financed on duplex, bought from a friend of the family. hopefully many more to comeHey @Jeffrey Eschbach, welcome to the BP Forum!

Using a HELOC to fund your first rental can be a great strategy, especially if you want to preserve your cash for other expenses or unexpected costs.

Maybe concrete single-family 1-4 units depending on the price point and cash flow.Also there is no real MLS in Puerto Rico you need to find an agent for each area you want to look at.

Not possible, 85% max LTV on a purchase or straight refi, 75% max LTV on a cash out refi.