Yes you are in a GREAT position to buy property but still need to keep improving your RICE.  

They maynot want to do this if they are using a Bank to finance, since thebank will want “First” lien position and you won’t want to do“Second” position.

@Josh LansberryIt’s exciting that you’re ready to take action in the Raleigh/Research Triangle market, an area with strong growth potential.

So, your focus may need to pivot from high rental cash flow to little to no cash flow as a rental with an appreciation upside.I would recommend taking your $150K to $200K and securing a solid equity position in something that will cover its expenses and maybe provide a small cash flow, but then is poised to appreciate nicely over the course of the next several years. 

A tiny % of people can avoid the hard work by getting creative or lucky, but most have to work hard, take action, and be patient. 

BUTTTT there is sooooo mcuh garbage out there that you'll have to sift through to find the gold and then you have to learn it, put it in proper order, THENNNN take action. 

I'm looking to finance the project long term in a way that is helps me create positive cashflow.

The investor who bought this home owns an asset that is cash flow positive from day one and one that will benefit from all 5 profit centers of rental property investing for many years to come.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Still tons of positive cash flowing deals that meet the 1% rule and amazing appreciation here!