I have thought about using a credit card or line of credit but if the deal goes south...ouch.

My strategy has been to grow aggressively (by using as little of my own money as possible) to secure good assets, and once stabilized, then work to pay down loans to own them free and clear sooner rather than later. 

Quote from @Chas Lumley: Hey all,I'm looking to make an offer on my first rental this week and was wanting to get different inputs on LLC vs Umbrella policies.I will be using a conventional loan and I was told by my loan officer that I can not buy the property under an LLC, but I could transfer to an LLC after acquiring. 

@John Underwood Thank you Master Jedi, you are very correct, I am using a real estate agent for this only one I didn't try was "divorce, code violations, dilenquent taxes, owner in jail etc." but those houses in the DMV you'll be surprised the amount of competition is over here foreclosure houses are also being fought over to bidding wars even if off market I've been trying since Jan. 

Are you using a real estate agent?

Purchase price: $219,000 Cash invested: $63,275 Buy and hold single family residence using a 203K loan What made you interested in investing in this type of deal?

I analyze the property as if I am living there as well as when I'm moved onward and using a PM or letting a trusted tenant be PM.

What are the thoughts about using a cash out refi to pay off current mortgage, rent that property, and use cash towards new home?

Also, STR management can take a lot of time unless using a PM which can be 25%+ in COS.

@Mary Lopez - second on using a mortgage broker.