Buy now!”

If I wait until accumulating enough cash in the account to buy another note, this will kill my yield.

I would confirm by seeing the product then going out and checking comparables in that market that have sold. 

@Marquez Cadet Haven't used one in a while, but I am currently seeking bird dogs in Eastern PA, DE, NJ and Northern MD and am willing to pay $1000 per closed lead (paid when I close on buying the property).

In depth knowledge of a city's economy is not necessary if you are buying a single SFR.

You may be declined for not being an owner occupant, but it will still buy a little more time.

Quote from @Praveen Kumar: Hi I am looking to buy first rental property and looking to speak with lenders.

Not able to buy in this area without going house poor.

The attorneys I have worked with when buying a large apartment complex have all recommend one LLC for holding the property and one for managing it.  

If you planned on moving out of a house and buy another property, as an example, you could pull a HELOC before you moved out and keep it as an emergency fund.