The last thing you want to do is to buy a sub-optimal asset or location where your initial equity down payment evaporates and goes away. 

Thats fine as long as your Debt to Income (DTI) supports it.

You would just approach any lender and ask to refinance.

It had some value add components to it so there was plenty of meat on the bone.

Hey Dale,So the best way to find some GAP funding is to look for private investors either in your area or that you know that would help.

With C class rentals you'll need to run a much higher expense ratio.

Best way to learn an area is to drive/walk around as much as you can.

The key is to buy a distressed multi-unit or single-family home with space to rent out, rehab it to increase value, refinance to pull out equity, and then continue living in one unit while renting out the others.

@M Amin You may want to exercise caution when using a series LLC for commercial property.

I'm excited to share that I've finally taken the plunge into real estate after a long search!