I've been soaking up information for several months now trying to arm myself with the tools I'll need in order to start finding great deals and making a steady flow of passive income.

Cash on cash will vary based on several things, but this is the one metric I use up front to separate the deals from the duds.

You may be able to borrow the down payment from your 401k, and then pay yourself back via regular payroll deductions over several years.

I’m 24, own several rentals out of state, and started about 2 years ago.

Several of my mobiles have different rents that were grandfathered in, so that helps, but several are on the same rent and occasionally someone will forget their printed deposit slip and just go to the bank and hand write one out and not put the unit number on. 

This would be the case if they're all on a jointly and severally liable lease.

It can also cost several thousands of dollars per split.

Keep in mind though that smaller loans are not very profitable for these banks, so you might get better terms if you sweep up several properties in to one loan or  you have a higher value.At the end of your term look to refinance again most likely.

@Jack BandlowCheck out my friend Jack at www.highreturnrealestate.com I have several properties with them.

I've used several and didn't really like any of them.