Purchase price: $225,000 Cash invested: $56,000 Purchased 4-plex from a wholesaler.

Purchase price: $650,000 Cash invested: $138,000 My business partner and I picked up this 25 lot mobile home park in Owensboro through a wholesaler.

But if you have a cash buyer who is specifically looking for income property, and even more specifically a vacation rental property,  I firmly believe that there is a value add from having a working STR there.

Purchase price: $145,000 Cash invested: $15,000 Sale price: $180,000 2017, I tackled my first fix-and-flip—a 2004 double-wide mobile home on over an acre that needed a complete transformation.

., but for now, we like to only consider semi-stabilized (with minimal deferred maintenance) or fully stabilized, cash-flowing properties. 

Actually dont need the cash.  

$1600/month rent with Piti being $1050 Will bleed cash in a war zone area.  

Last year was the first and only year we had a negative cash flow, and that is driven by the anti-landlord west coast sentiment.  

yes, but it's much more difficult. you're just not going to cash flow after you refinance - you might even be slightly negative. 

If you are on cash accounting, yes you could do that.On the other hand, you are ignoring carry-forward losses.