You also can only obtain a few properties rather then numerous properties because you use up your debt-to-income ration.Your friend also says it's bad for the local economy for investors to come in.

I would invite you to use this time to get exposed to a number of different ways to make money in real estate.

I live just outside of Orlando, and I pass numerous vacant houses each day.

Here is a numeric example to illustrate what I am trying to achieve:purchase price + rehab: $100K = $20K cash + $80K from HELOCARV: $133Kcashout refinance 75% of ARV: $100K goes pay off HELOC and keep $20K cashThanksNick

@Lora Hish for numerous reasons the property needs to be owned by an LLC.

I have done this numerous times with loans for operating capital, or loans where individuals did not want their funds returned after the sale of a specific property.If you have a different free and clear property, you could secure their loan with that, or any property with substantial equity, could even be your personal residence.

for the meet up invitation.

While I don't think your intent was to bash on us and I agree with a lot of the comments you made I've had numerous renters whom have made me cry because they got the house they wanted and wanted to thank us for giving them a chance.

Hell, I think you told me I was full of crap once and I invited you to come visit anytime and take a look for yourself.  

There are numerous people on BP flipping in the 150k range because their market has an abundance of outdated/cheap houses, a stable mid-level economy with low crime & low unemployment, and a premium of buyers that want updated homes.