I would even suggest a Primary home or Vacation home to pull the cash out of versus trying to find a lender who will agree to be in 2nd lien position behind a investment property.

I would love to understand, as a first time REI - how to best identify a property that will have cash flow and positive cash on cash return (or even what kind of property)?  

Lakeland is like Tampa’s younger cousin—cheaper, growing fast, and great for cash flow.

This unexpected expense turned what was promised as a cash-positive investment into a cash-negative one—the first in my investing career.To make matters worse, I lost $21,000 due to the property managers recommended by RTR.

We are wanting to buy out the kids for their half, take some cash out, and then use it as a rental property.  

I’d keep it, do a little cash out refinance if you wanted to regain some of the $, and just rent it out or STR it and make some money on it..Appreciation always goes up, and a few years down the line (and/if interest rates come back down you could pull even more $ out Tax free!)

Purchase price: $123,000 Cash invested: $15,000 This was my first personal real estate transaction.

Purchase price: $55,000 Cash invested: $55,000 4 acres of land parcel in a village closer to the city.

My goal isn't to generate a large cash flow (although it would be nice). 

.- Holding generates ongoing cash flow, equity growth, and tax advantages from depreciation.No right or wrong, each approach aligns with different goals, budgets, and risk tolerances.