If you successfully get some good deals under your belt, your rates get better, your confidence increases and you can go out and raise your own private money and not need us anymore which is what the goal is.

Examples: 4br can go beyond $12003br/2ba 1100 sq ft ranch rents for $900-950+ Can buy for $35-45k, be all in around 60-65k.2Br/1ba rents for $750+ Can buy for $30-45k be all in for $50-55k.Multi family rent rates:Efficiency $450 plus they pay electric1br $5502br $7503br $900I recommend outside the belt and checking into the donut counties.

Another thing to think about is doing the BRRR strategy once you get more experience and time under your belt.

I too am looking forward to getting into the real estate community and hopefully getting additional investment properties under my belt! 

You are mainly in a high cap rate cash flow only state and not a high growth warm belt state.Depending on your vacation spots there are lots of other buyers willing to take much lower cap rates  to take deductions.

I believe after that all bets are off and you'll have a year of property mgmt w/ a multi-family under your belt which will make your next purchase easier IMO.Good Luck!

A heating tech can tell you all kinds of stuff, from temperature differentials across intakes and blowers to steam pressure levels, etc. that your handy man won't have any information about. 

After the first year, you are eligible to purchase a new primary with that same 5% down if you'd qualify. there is a guideline referred to as "departing residence" which will allow you to use 75% of the lease on your now-primary-turned-rental, for the purpose of offsetting your existing payment on the house your'e exiting. this should help with the DTI on your next purchase, but beware, you won't get credit for positive rental income -- only offset the existing payment. this is a really cool strategy to get multiple investment properties under your belt for low down payments....

Proud to say I have 1 rental under my belt now! 

Our plan is to build a solid team in the area and get a few flips and buy and holds under our belt (for experience and a diverse portfolio) before tackling our ultimate goal, which is to restore historic properties in the state.