The issue is his definition of cash flow. 

If they’re underfunded, you could get hit with special assessments.Since you want to stay local and focus on cash flow, commercial makes sense, but have you considered industrial or flex space?

Process is simple. 1. purchase contract2. send contract to title company3. bring cash to closing and you're done

What you want to ask is what is a good ROI or better yet, your Cash on Cash Return.I know someone who has $3000 per month cash flow.

For southern states, you might want to look at smaller markets in Alabama, Mississippi, or parts of Tennessee and Arkansas where properties are still affordable and cash flow potential exists.

Cash flow keeps the lights on but appreciation is what will make ya rich. 

My father and I just paid cash for a little less than a 2 acre lot in Summersville, WV.

So about a 35% cash on cash return for my buddy each year on his $100,000.

Conventional loans will require 12 months seasoning for cash out and are usually capped at 75% LTV 2.

My question is, do I just not touch the first property, use the cash flow to reinvest and pay down the mortgage or save up for a downpayment down the road OR do I pull cash out of the first property to buy the next property?