Hi, I am new investor and just got my first cash offer accepted for an investment property which I am planning to use for a long term rental.

U usually have to bring some cash into the deal that is more than 10%..  

So, you need to be sure it makes sense as it does not always do so.Also, keep in mind, line of credit are for short term cash needs NOT long term for example a down payment on a property you plan on keeping for the long term.

Purchase price: $22,000 Cash invested: $35,000Currently rented. 1999 3 Bed 2 Bath Mobile Home Updated kitchen and master bath.

If positive cash flow without your residence is achievable, the property could serve as a lasting investment post-move.

That is why Im looking at doing the whole deal cash only, since financing would bring high carry costs.

Manage Your PropertiesProperty Management: Decide whether to self-manage or hire a property management company.Maintain Cash Flow: Keep track of income and expenses to ensure positive cash flow.8.

Texas does have some general HELOC and second loan cash out restrictions with many lenders..Check in with @Joseph Chiofalo for specific guidelines. 

Now you have cash to put down on a rental property conventional loan, and you can go and grab the next live-in flip with the VA loan.2. after six months to a year, move to the next property, where you can use the remaining balance on your VA eligibility to acquire and rent out the first property.

I observed the vandalism damage with my own eyes, then I wrote him a cash offer, but I offered him like 20k and he didn't take it.