now, if you've boosted the ARV of the house via the rehab to 200K, you can do a cash out refinance, and put a long term mortgage on the property that is paid monthly.you will get "cash out" (minus closing costs) at closing. 

You will need to save that initial income to buy your first properties, get your mortgages, etc.You don't need a college degree to swing a hammer, but that psychology class could come in handy negotiating with a difficult tenant.

For example the BRRRR strategy worked with many properties 10 years ago when the average mortgage was cheaper than the average rent.

Learning from those who had already paved the way, I earned my real estate and mortgage broker licenses, equipping myself with the tools to dive into the market.But knowledge alone wasn’t enough—I needed mentorship.

Quote from @Jed Butikofer: Unfortunately, it takes money to make money.With high prices and high mortgage rates, cash flow is difficult to find and we may not see a return to the 2018 market for a while.

On my properties about half of the mortgage payments go into escrow for taxes.

Debt Reduction - at the very least, another human being is paying down your mortgage and increasing your equity.

You can buy a rental house, put $60,000 down and you will have to get a non-recourse loan for the rest of the mortgage.

With high home prices, rising mortgage rates, and intense market competition, securing a property has become increasingly difficult.A recent survey found that over 60% of real estate agents reported instances where Gen Z buyers lost out on homes due to delayed decision-making, missed appointments, or hesitation in making offers.

As for the area, looking for an area where the rent will cover the mortgage.