Once the property is rehabbed, you can refinance into a DSCR loan with no seasoning requirements.I'll let some of the traditional mortgage brokers chime in, but traditional financing might require a 12-month waiting period to pull your cash back out.

But realize that if you live somewhere seasonal, occupancy can vary... like cold winters in Texas probably equal lower occupancy.   

Hey @Elijah Dicks, I plan to start investing the next couple years but would love to gain advice/guidance/tips from some seasoned investors.  

Something that you really have to take into consideration is that most buildings here are a century old or even older.

Welcome to BP Deepak,These forums are a great place to learn and meet people, whether you're just starting out or you're a seasoned investor.

Most rust belt cities are similar, older housing stock, lower prices, higher risk.  

Housing stock is much older.

@Mark Jajowka It is getting difficult to place insurance if the building has an older roof.

are there older homes in this are you can buy and cash flow until rates are lower and the raze and build new on the lot?

Depending on your age, that may be a small amount at the beginning, but it gets to be a bigger percentage of each account as you get older and your life expectancy gets shorter (according to the IRS table).