Financing Insights: We wanted to utilize leverage on a larger asset, so we used low down payment owner occupied financing.

If you owe $50k on your property but need got borrow $150k, The cash out will make more sense from a monthly payment standpoint. 

Pre-payment penalty is just the first 3 interest-only payments.

Option 2: Purchase additional properties and build portfolio I know that there are some tax implications to no having the mortgage payment to consider.

The down payment would be anywhere from 5-20% of the deal. 

and my one of my fears is that I get the wrong house and have unexpected projects go wrong and I get behind on payments.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.

He paid a month, skipped payment a month, paid for a month and a half (one month being the unpaid month), negotiated payment for upcoming months, lied about what he said he'd do, made a partial payment, promised to pay unpaid rent, then ultimately skipped out without paying for multiple months of rent.

The best way to get into real estate is by keeping your regular job and using that income for a down payment and to qualify for a mortgage.

Additionally, satisfactory credit (typically 680+) and a down payment of at least 20% are typically required to qualify.- I'm not an expert in lending, so please do your due diligence in verifying this information.Rich dad poor dad is the reason I became an Investor/Realtor!