Here in Cleveland you can pick up a Turnkey SFR for $50k and get $1,000 a moth in rent.

And pick up some books.

The numbers for the 3 deals we wholesaled were:Purchase $80,000 - Sale $141,500Purchase $100,000 - Sale $140,000Purchase $52,000 - Sale $82,500We picked up another one last week for $125,000 and we will put around $50,000 into it and ARV is around $250-$275,000

This is because you can pick and choose if/when/how much of the HELOC you wish to use, and you only pay for it when you need it! 

Happy Friday - Thought I'd pick your brain on the financing terms I was just presented by a local bank:Per his email:Interest rates would be 5.125% for three years or 5.50% for five years; 20 year amortization and .50% commitment fee.We can look to underwrite and approve with 20% down payment if using 100% of your own funds <or> 25% down payment if obtaining a 10% seller second mortgage (15% coming from you).So,I currently own 6 properties (12 Units) with them, financed under a similar structure, that I purchased back in May.Looking to purchase an additional 22 Units contingent on bank financing, so before I move forward, what are your thoughts on this? 

I've been learning to work the calculators for a couple of weeks, just picking random properties from my area.

Pick 3-4 markets and research.

Who picks up the interest expense?

If you want to go the 203k route, pick a place that has a minor issue and use the 203k loan to get the high leverage of that you can get using FHA.

I say pick a market, build a team and don't look back..