So it's a waiting game for that property until you have enough to do a cash out refi.

I've worked with several lenders that allow no cash-out seasoning before.

For instance, many tribal lands are exempt from state and local property taxes, which can obviously lead to significant savings.

This will save you on subscription costs.If you want to discuss any of this further, I'm happy to answer questions and help walk you through it.Best of luck!

Additionally, I have one savings account for reserves for all my properties, which I add to every month. 

But if you have a cash buyer who is specifically looking for income property, and even more specifically a vacation rental property,  I firmly believe that there is a value add from having a working STR there.

Do you get energized by throwing your stack of cash on black and seeing what lady luck has for ya? 

My two cents: get a job and HUSTLE right out of school and create some income and save up some capital.

Hello Zachary,  You are correct in looking at the Mid-West for cash flow. 

I'd save yourself from the headaches and just buy it with a DSCR loan.