It would have been virtually impossible to receive those same rents from cash tenants for both those units.

Purchase price: $100,000 Cash invested: $73,000 Sale price: $267,500 Contributors: Peter Vekselman Partner Driven, in partnership with Francisco Diego, acquired a home on 4th Pl SW, Vero Beach, FL, for $100,000 on 3/31/2022.

But everyone of them want at least 10-20% of your own cash in the deal.

From there, I hope to buy a second rental through the rental income earned along with what we can continue to save.

The property currently cash flows around $1,800 a month after operating expenses.

Are those units cash flowing and you are banking on appreciation also?

I am not expecting to make much (if at all) cash flow right now but do not want to have a -ve cash flow.  

I will have access to ~1M in cash for down payment and closing costs (I would also have reserves, separate from this capital).

Here’s the REALITYWhile I compliment you on your ambition and drive, lenders want the borrower to have their own cash in the deal, not borrowed money for down payment.  

I have about $250,000 in equity in the property and a cash flow of $1200 not including capx.