That would cover 30k down payment plus allow you to put 6k in the bank.You're going to need to have at least that in the bank when holding rentals.In terms of flipping though, that might be a path of least resistance in terms of financing.

I definitely have the impression that being an LP in a syndication would be the path of least resistance though.

Sorry Bill, but I couldn't resist. 

Unless this is put into the lease though, sometimes tenants are resistant because it might be an inconvenience driving to the bank vs. mailing the check.

Markets that are dominated by major universities are very recession-resistant, and can be excellent markets for the long-run.  

So, it comes out of the security deposit.Experience in managing hundreds of people tells me that people are like water will always follow the path of least resistance.

With the market as hot as it is I'd imagine you hit some resistance, more from the LA than the Seller, to meeting in person at the property.Appreciate any experience you can share.

Tenants, particularly students and young professionals, seem to be almost incapable of cleaning tile and you will eventually have ugly, stained grout lines.We still put soaker tubs and tile surrounds in our higher end rentals, but are doing so for the aesthetics.When we do use a 3-5 piece tub-surround, we never put them directly on the framing, but alway use a backer - rigid foam/rock board/mould resistant sheetrock - to prevent the surround from warping.

I was a brat and I hated it and resisted making any effort, although I was fine working hard on my grandfather's farm. 

Cash flow is recession resistant so take your time and find something that pencils out well.