In the end there are a lot of negatives and very little positive. 

This put me at a difficult position having to explain the difference between cancellation and alteration request, and why alteration request is not in line with cancellation policy.

Anyways, even if a gap lender comes in, if it’s even an allowable second position (A lot of lenders won’t do that and Silent 2nds are a No-No) they add so much additional risk to the deal, potential legal ramifications and all around  generally dangerous feet’s.

My name is Bernice Retzloff and I am the in house realtor at Foundation Property Management in Memphis, TN.Investing in Memphis, TN could be a great move for you, especially if you're looking for positive cash flow.

My out-of-state clients are successfully finding buy and holds here that have positive cash flow, hit the 1% rule, and have also lots of potential for appreciation.

Quote from @Drago Stanimirovic: Hi Solomon,You’re in a strong position with solid real estate experience and savings.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I've been ruminating over the low rate environment recently and whether to refi one or more of my long-term rentals, but I just struggled visualizing the full gamut of financial impacts, e.g. loan cost inefficiency, 30yrs vs 15yrs mortgages, maximizing cash flows vs cash-outs, tax positions, etc.

With reduced supply this could have a positive affect on rental revenue this upcoming winter season for short-term rental owners of homes that were not negatively impacted by the storm.

What're some positive and negative stories you guys have of using little to no money to purchase property?