If you're wanting to use leverage to buy more properties, then once your credit is around 680+, one strategy would be to cashout refi your current property at around 50% LTV.

(You said you plan to buy it for the amount of the loan, not the value of the property.).

As you buy more, that will change. 

Why can't they sell it for double the price Scott pays to buy them?

I have had investors pull equity from their homes in the phoenix area to buy cash flowing properties in Fayetteville and similar areas, because the price growth in the phoenix area generates amazing returns.It depends on if you want cashflow now or delayed gratification later.

Buying mixed use means you want to feel confident in the future demand for both residential and commercial space in that area.

@Raquel ReedRecommend you understand the property Classes, so you buy wisely!

We are looking to buy our first property in the Baltimore, MD area.

For simple math let's say it's $100k buy.

There is a reason why I buy properties that cost a multiple of what typical cheap rental properties are going for.