Weirdly, you may actually be able to get better terms and/or more LTV on the refinance if there is debt on the property as lenders have rules for max cash in hand (max proceeds you get at closing) for cash-out refinances.  

I think it is just as indisputable that higher cost markets will produce greater value add via a proper rehab.Next question is does initial cash flow have any correlation to actual cash flow over a long hold. 

Ask the candidate to share actual tax planning strategies they have used. 

I have actually cashed out a lot of my IRA now bc I have so much depreciation from RE that my tax bracket is very low and the taxes to pay on the IRA withdrawal are also pretty much non existent (taking aside the penalty). 

But, it's very commutable, and a lot of people working in Reno (especially South Reno) actually live in Carson City because it's cheaper. 

My actual experience has been very varied.  

I don't know if this is actually in an A or B neighborhood, but would a duplex like this interest you: https://www.realtor.com/realestateandhomes-detail/116-Regent...?

Good luck.  100% agree that the way to actually make money in real estate is through appreciation, however I think there is a point for that in every investors journey.

It’s actually built right into Prop Stream if you’re using that.

One of the biggest challenges for everyone involved is being on the same page about the actual time required for maintenance.DIY landlords rarely properly track their time when it comes to property management in general - tracking their true time invested in maintenance is where they perform the worst.Investors that hire PMCs are rarely any better at understanding the true amount of time maintenance takes.