Quote from @Paul Whitehurst: Many will tell you to borrow money from Property A to purchase Property B, but that's known as over-leveraging and not recommended for a newer investor.

Purchase price: $90,000 Cash invested: $60,000 Buy and hold that I still have to this date.

@Aristotle KumpisWe do 10+ Flips/BRRRRs annually and fund with Hard Money and Private Money.Hard Money will fund 90% of the purchase price and 100% of the rehab on a draw schedule.Our Private investors will fund the remaining 10% of the purchase price, the first portion of the rehab (to be drawn later from the HML), and the holding costs.Of course, with private lenders, you must give up equity or a return on the debt.

Step 1: Ensure you can get financing (is it a cash purchase or will you need a loan). 

Hello,I am interested in purchasing a recently renovated $195K property as a 'secondary' home for the next 4 years to use as a future LTR.

I am looking into purchasing a STR in a different state and was wondering if you would be willing to give me some tips you learned along the way?  

Slowly work your way up to bigger purchase price and rehab budgets.

Purchase price: $120,000 Cash invested: $150,000 Dilapidated house.

Yes you can find properties which you will be able to purchase, but ROI will be near zero or negative. 

Quote from @Holly Radice: I am looking into purchasing a 4 unit in Ohio as my first property.