You can find cheaper options on some other stuff, but I hope this gives you some Insite as to what money can buy these days. 

You should always talk to a mortgage broker or bank first to find how much you qualify for before starting the investor journey.

I do have monthly mortgages to be paid and not having rental income to offset my negative cash flow has been a learning experience and really trying to think of what options I have to have better success at this.

Many likely have coverage for their mortgage balance or from many years ago.

The ones who bought cheaper properties trying to fix up had mixed results with one getting hustled by a contractor and definitely going into the red.

@Stephen FlemingFrom my experience working with over 400 investors, your strategy of leveraging a low mortgage rate, tapping into home equity, and diversifying with a short-term rental (STR) in Northern Michigan is well thought out.

The property was rented and generated $160 cash flow after mortgage, taxes, insurance and property management fees were paid.

If a seller refinanced a house at around 220k and has about 120k left in mortgage, but the house also appreciated to 450k, how do I structure a subto/seller finance deal?

my condolences on your recent lost.there are a few ways you can do this, as mentioned above you can take a heloc on your primary residence which will give you a second mortgage, first mortgage payment wont be impacted. you can do cash out refinance which will give you one mortgage and payment. it will pay the old mortgage and give you money in your pocket to pay for the rehab.or you can do a renovation refinance which is similar to cash out refinance but we would contractor involved  as part of the refinancing and they are paid through the loan

. - Taxes are on the higher side at $6,000 yearMy Numbers: $115,000 putting 20% of my money $23,000 and finance the rest with total expense of $1,834Monthly expense numbers: Future Maintenance 13% $273 - Vacancy 5% $105 - Property Insurance 5% $105 - Property Taxes 23% $500 - Property management 10% $215 - Office/Travel/Legal 4% $84 - Mortgage 26% $552 - Monthly Cash Flow - $316 per month or $3,792 per year so Cash on Cash = 17%I think this looks like it is a deal worth doing and I also believe I can bump the total rent up by $50 each tenant which I think make it even better.