- Network with local agents and investors, so you start getting first crack at new deals.If you can amp up the cashflow on the first duplex, you can use the extra cash to:- Pay down the mortgage, setting yourself up for a future refinance to free up your VA Entitlement.OR- For your next acquisition.One of your biggest challenges will to keep the cash flowing when you move out of a duplex.

Dishes are the biggest conflict in almost all roommate situations.

They make money on every step of the process, and there's a lot of incentive for them to exaggerate what your returns will be.

The loan programs of your buyers will dictate how much of a credit you are allowed to apply to their closing but it certainly helps to move inventory when you offer an incentive. 

The biggest advantage of using someone local to where you're buying is that they will understand taxes, insurance, and similar items very well when it comes to DTI/DSCR calculations and payment quotes, and they will likely have a local network of service providers for ancillary services (survey, inspections, etc).

I think one of the biggest risks you face with Cash Out is interest rate risk.It's really difficult to predict where interest rates will be in a 2-5 year time period, so it can also be challenging to model out future mortgage rates.

That was my biggest mistake.

To me the biggest issue with out of state investing and long term rentals is that you have to deal with property damages and/or evictions. 

I've flipped about a dozen properties here in Chicago, and quite honestly, it felt like something different went wrong on each one of them.My biggest piece of advice is to KEEP IT SIMPLE starting out. 

This is literally the biggest obstacle for any data center development today.