I found really good deals and paid cash.

If you need $5,000/Mo to replace your income and each rental property generates $300/Mo cash flow, you will need to acquire 17 properties ($5,000/$300).

They had exhibited the desire to pay down debt and had cashed out the parks before us that had agreed to owner finance.

There will be different areas that are better or worse depending on whether you're in search of cash flow or appreciation. 

My underwriting would have this large negative cash flow for 7 years.I would do a thorough underwriting but want to show using quick math the issue so I will use the 50% rule.  

The 4-plex would produce around $1000/mo cash flow after financing, and that financing would recover your total build cost leaving you with no money in the deal at the end and an "infinite return" for CoC.

Make sure your first rental cash flows well by running the numbers as if you were buying it today.

You can test this, by asking some to SHOW you how they calculate ROI, Cap Rates, Cash-on-Cash, etc., for their clients.Many will say, "that's the investor's problem".They are correct because an investor should NOT rely anyone else to run their numbers.So, then what exactly makes them investor-friendly?

It's now converted into a cash-flow positive long-term rental.

Quote from @Mary Jay: Quote from @Jay Hurst: Quote from @Mary Jay: hi guys,so I have a lot of equity in one of my rentals but the interest rates are super low on it. so I dont want to do a cash out refinance on it because I dont want to lose the 3% interest rate on it.I want to get some cash out of it via Heloc or another vehicle,  so I could buy another rental, but its not my primary, so I cant get a HELOC on it from lots of banks....I think PenFed does helocs on rentals, but because I have more than 5 rentals, I dont qualify for their HELOC loan.IS there a bank that would give a HELOC/cash on a rental?