However, some investors don't mind this strategy if they prefer not to put a lot of liquid in up front and plan to refi out within a few years of closing (which seems to be a great option with the talks of the FED reducing interest rates into 2025).It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you.

They even gave $5k towards closing costs AND paid the points to lower my interest rate to 6% for 30 years.

Doesn’t cover you when a closing company who wires your money to a prior lien holder and then never closes the deal.  

The duplex had carports and separate fenced backyard areas.

Depreciation isn't an actual cash outflow [because we+the bank made the actual cash outflow at closing], but we get to write off the cost of the asset as an expense over time.Since cash flow doesn't equal net income, there are different scenarios that can happen. 1) Cash flow can be higher than net income. 

Best yet, get the seller to pay a couple points towards closing costs when you make your offers, even if you have to go up on the purchase price (still has to appraise at the higher price).

If they cant be bothered to provide basic proof that they can close before tying up your time, then they will be a nightmare to deal with once under contract. 

My question for LTR investors - what would be an ideal loan for you assuming its for a longer term hold..Please dont tell me 3% no fees, 100% LTV, close in an hour, no prepay etc etc  LOL ...  

Looking for some opinions please..I am on track to close on my second investment property (3/2)  in a few weeks or so with flexible plans for the Seller to rent it back at a discount for a couple months. 

All you need to do is apply the 3 pillars of a conversion correctly and drive traffic to your website manually, and within 2 weeks, you could close deals—absolutely.