Your post may resonate with someone who is in the process of listing a traditional rental but who had never previously considered arbitrage.Please keep us posted on this thread on how you ultimately find your successful leads.

It was pretty hard to find properties where the numbers and landlord laws made sense which is what ultimately led me to investing in Columbus, OH.

Here are a few I recommend: "Rich Dad, Poor Dad" by Roberto Kiyosaki; "Set for Life" by Scott Trench; "The Unofficial Guide to Real Estate Investing" by Spencer; "The BiggerPockets Ultimate Beginners Guide" found here on BP; "The Book on Rental Property Investing" by Brandon Tuner.

Ultimately, you have to be clear on your goals. 

Once we get this rolling, we will definitely be looking to the south, Ultimately I would like to have 5 to 10 properties throught Utah.

Ultimately, it's about you and what works to give you enough comfort and protection from all the unknowns.  

But you're not boosting the value enough to rent them for $1200 with 15K

If you wait 6 months the market most likely has driven the price up, and if you have the asset secured and rates go down you can refinance (giving you a boost in monthly profit). 

Here are a few I recommend: "Rich Dad, Poor Dad" by Roberto Kiyosaki; "Set for Life" by Scott Trench; "The Unofficial Guide to Real Estate Investing" by Spencer; "The BiggerPockets Ultimate Beginners Guide" found here on BP; "The Book on Rental Property Investing" by Brandon Tuner.

Setting clear investment criteria, such as the types of properties you're interested in, where you want to invest, your budget, expected returns, and how much risk you're willing to take on, is key.In order to be financially prepared, it's important to save for a down payment, establish an emergency fund, work on boosting your credit score, and look into different financing options.