I bought my first rental OOS while renting myself.

I bought it last year and thus far have: 1) Appealed assessed value to bring down taxes, 2) Got better (less expensive) insurance, 2) Rehabbed 3/4 units, and 3) increased rents $300-$400 per unit along the way.

I am in the Palm Bay, FL area and bought an SFR 3/2 for 220k.  30% down, 6.375% rate, and after all expenses, with a property management company, it should cash flow roughly 175/month. 

I bought a property that was newly rehabbed without having to put in the rehab money.

I bought it under my LLC and I have been thinking of refinancing.

Just bought 3 houses last week from a builder. 

No problem.. what I did with my ridgeland and Madison rentals and I had bought 12 new builds for the Gozone tax bene's post Katrina..

Quote from @Kelly Giarrocco: I bought a vacant property on Sherriff sale last year on the ********** site.1.

No debt, they bought this place for like 200k in early 90s, quite old people. im not sure if they will be alive for the 7yr term but they chose it..The reason im putting so much down is im buying w gift money and i want low monthly payments.

Paid some debt down, kept some cash, bought 3 more locations for future development.