Quote from @Zach Howard: Quote from @V.G Jason: Quote from @Zach Howard: @V.G JasonTo someone just starting out (only option of OOS) who can get access to 200k, but no additional financing at this time but an additional 50-100k max in reserve cash, where might you recommend they start - markets/property type/strategy?

So you have some great resources right off the bat, my additional Referrals would be too many :)

You don’t get to just expense the additional real expenses.

In addition, we pull our own comps and use Lightning Docs to generate our loan documents.

In addition, due to the 2 of 5 year rule there often is no need.  2) you cannot 1031 a property that has not been put into service to be an investment property 3) you cannot 1031 a flip.  

Additionally, the price point is still cheap enough to find the 1% rule and positive cash flow and there's amazing appreciation potential.

Additionally, I have $100,000 in cash in the bank, and my monthly expenses for my home and family are around $3,500.My wife earns between $100,000 and $120,000 from her W2 job, while I've recently lost my job but found a new one that pays $65,000 a year.

That would be a helpful addition to your plan as you would further reduce your cost of living.Also don’t forget from that $600 you are planning on getting in cash flow you have taxes, insurance, maintenance, capex, and vacancy to consider.With two homes, you may want to keep that extra $20k as an emergency fund rather than spending it on a third property and then be left with no emergency funds.

I intend on sending the tenant a bill for the exact repair cost as "additional rent" (per the lease) instead of evicting in the winter and deducting from the security deposit.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.