I used to work in finance and we could get clients approved for a HELOC in less than 24 hours which will be much quicker than the cash out finance.

Renovation cost is roughly $30K.I guess what throws me off is that you say Cash invested: $60 

You will get way better loan terms than you would on a Cash out Refi as a partnership entity with no RE experience.This is all very theoretical, can you share the actual numbers so we can help you more?

It is much more difficult to sell an entire portfolio that has become uninsurable (which would require a cash only sale) or that insurance rates are so high that no one wants to buy. 

say you find a solid property in a low cost market for $200K and you buy it.between down payment, closing costs, rent ready / spruce up costs, and lease-up costs, you're probably going to need at least 50-65K in cash. 

Still good cash flow. 

Purchase price: $75,000 Cash invested: $69,500 This a complete gut rehab.

The Tampa Bay area can really be the best of both worlds in terms of appreciation and cash flow, as long as you execute correctly.

I’m open to either a townhouse or a single-family home, but I’m definitely trying to steer clear of any crazy HOAs that eat into cash flow (you know what I’m talking about!).

Make sure to analyze cash flow, including conservative estimates for vacancy and maintenance.Indianapolis Market: Indy has solid multifamily options in neighborhoods like Irvington, Fountain Square, and near downtown.