Lots to digest here, @Andy Basler.

There are two times of cheap neighborhoods, the ones that are in the path of progress that will appreciate with time (Gentrify) and those that will just be cash cows and not increase in value. 

We all know how great it is to have cash cow and how hard it is to find it, cant just be selling it because we need capital for another opportunity and lose out on cash flow.

Definitely much to digest and learn.

Holy cow!

David, we can all run numbers until we are blue in the face, the cows come home, or until the Atlanta falcons can reverse time and not blow a 28-3 lead... that being said, beyond just the numbers, look at the unit structure.

.- If you have a bunch of other rental properties that are cashflow cows it might work just based on that, using conventional financing.- Stated income HELOCs are starting to come back, local to me, regional banks only.- There are also portfolio loans that'll just use appraised market rents to document income, no tax returns needed.- A commercial loan might be an option.- And, last but not least, there are of course hard money loans.

If you find a stellar deal that is a cash cow but you make no money and are in debt $200k why would they lend to you?

It sounds like you have all the info you need to make a decision, digest and interpret your agents advice and move forward or back out.I will say that 12-24 months sounds like a long time to release space regardless of market.

I probably digested every book from BP and other great book recommendations mentioned on the podcast.