The other option, however, is that I can live more or less for free for the rest of the year between a few family members and friends and save that bit of extra cash towards the purchase.The extra cash could either help me jump on a deal sooner or it could be a buffer/money for potential renovation when I move in.

We washed the concrete with a garden hose and chemicals.

It offers a strong balance of cash flow potential and appreciation.

Purchase price: $95,000 Cash invested: $30,000 Sale price: $173,000 Before moving in we had to remediate some mold in the basement.

Bob is right that you can get better cash flow on the east side, but I still see deals pop up over there from time to time and I don't see any rapid depreciation in those neighborhoods coming any time soon and I think if your strategy is to buy and hold in nicer areas with less risk, it's a very good area to target.

I have evaluated it to be able to cash flow as a STR with the lender special rate, even with a conservative 48% occupancy. 

. $425k) to purchase a 12-unit Apartment ($1.5M) with 25% down ($375k from the HELOC).The remaining $50k from the HELOC could go into fixing/rehab of the 12-units.Then cash-refinance the larger amount from the 12-units to pay off the HELOC in one lump-sum (as much as possible), then using the cash flow from the apartment to pay off the rest of the HELOC.Repeat the process with a new apartment.1) Does this make sense? 

Purchase price: $120,000 Cash invested: $120,000 Sale price: $349,000 Nice mid century bungalow conversion to 4 bedroom 2 bath

The key is finding quality notes that are held by folks that are motivated to sell because they need cash.

Purchase price: $240,000 Cash invested: $180,000 Sale price: $789,000 3 Story Victorian build in 1900