Presumably, equity will increase, and if all the experts are right, rates will go down leaving you with an exit option of selling or refinancing. 

Purchase price: $180,000 Cash invested: $40,000 Sale price: $299,0004 family flat, 3 units occupied rents all at $625.00 increased all to $750 with 3 month,6 month,12 month and month to month options.

I currently invest in PA with plans to venture off in in New Jersey also.You have an option of hiring a property management company or self-managing if you decide to invest out of state.

My exit strategies are to either rent or sell, as I see both options being profitable.

If you have a kid in school, it's a great option. 

Like mentioned before, most investors are looking at creative financed options for deals right now in the area.Creative finance, putting a lot of cash down, or house hacking can all be viable solutions.

If you can demonstrate this, then there may be some options. 

This could be an option but based on where you are you might be better of looking near a national park and rental arbitrage is going to be less feasible in those areas (but still possible). 

Doing it this way allows you to ease your way in and costs you less up front - down payment for an owner-occupied property is much lower than an investment property, you may qualify for down payment assistance and can even use funds as a gift from a family member if that's an option. 

Hey Thomas - I'd highly recommend speaking with your CPA and an Investment Sales broker about your options when it comes buying an STNL deal to utilize depreciation.