Or, if it does appraise 'as-is', but the lender's underwriter determines that there is more deferred maintenance than they will allow for (say $2,500, or something close to that) then that would also be an issue.Either way, a 'subject to' appraisal and deferred maintenance are both no-go's for a DSCR cash-out refi. 

I've been searching for and working towards purchasing my first investment property for years and years, every time I found one that fit, other local investors with more experience, more readily available funds or alternative financing, and more connections were already writing offers while I was touring the property.

I just purchased a 2 family home in the Bronx (NY). 

The property must already be an investment property and you use it to purchase another investment property. 

If youre clearing 10K a month, im sure they can purchase a cash car.

Figure what the most important factors are to you from purchasing an asset.

Learning how to manage a house you've purchased is far more complicated.

Used my deployment money to purchase a property in Sacramento using VA loan. 

I'm curious about the following: 1) If you have purchased a property, what are the pros/cons of doing so through your IRA? 

We have not identified a new primary or investment property to purchase yet.