for me, the ones that cashflow the most are the ones that I bought with 3% long term debt, they were new (low maintenance) and they are in high appreciating areas(just a bonus but does not impact cashflow).

I currently have around 20k cash for a down payment and that is steadily increasing so I want to pull the trigger soon.I'm interested in Fort Wayne for a few reasons:- I have some family in the area (they won't be involved, but have some general knowledge of the area)- Decent schools- Low crime- Airport- Low pricesAny advice or connections are welcome as I am completely new to this.

Some even offer preferred interest rates as low as 5.75% at no cost to you. 

You can create a formula for splitting that cost among the tenants.

I am open to it- but unfortunately, I am not looking to move until another 2-3 years- my partner and I rent an apartment on IOP and we love the location and the cost is actually incredibly low which is great.

The negative equity often exceeds $50k but even if I use $25k (it would be rare to have this low of an initial negative equity position), is nearly 2.5 years to recover.  

@Chris Wagner- That's just too low an amount to make the claim worth it. 

However, your revenue is really low.

Purchase price: $15,000 Cash invested: $25,000 Sub to deal - paid the seller and wholesaler $15,000 + $7500 closing costs to assume $84,000 mortgage with a monthly PITI of $575.

Maybe with a low (70% or less) LTV or an ARM and stellar credit...also depends on what type of loan you're looking for (nonQM or conventional Fannie/Freddie)