He goes up to my Realtor, says "hi", and ask's me to leave so he can talk with her in private and I'm basically just shunned out, and leave...I don't mind my Realtor talking to him, but man, that guy just made me feel small...

* paying off the mortgage with the lowest balance created the greatest cashflow & brought all properties to a zero-balance fastest (mathematically, this is not always the case, and you could easily find a counter-example if the purchase prices are very far apart)I really want to learn how you're going to amass 15 properties!

Basically, if you're primary focus is "cash flow" then you'll want to focus on markets that have higher rent-to-value ratios.

Such is basically eye wash guys.Just look to a stadard RE contract in the default provisions.

I'd say the first thing to do is to get real comfy with the basics and the math (which maybe you are already.)

Not familiar with that area, but the BASIC #'s look good.

Basically buy a property below value with an FHA 203.k 3.5% down, after repairs are done, hopefully have enough equity to cash out refi up to 80% and then potentially HELOC up to 90% on that one as well.So, I would essentially have two OO financed properties that I've cashed out "free" equity that I've generated.

In the heartland, rent yields are so high on the types of properties that Matt describes that you can easily structure the buyer's LC payment to be quite a bit less than the rent would be, even with a sales price that is 50-100% more than you just recently spent to acquire the property, with a rate of 9-10%, and with a fully amortizing 10-15 year note.Most folks that do this that I'm aware of do little or no work to the property beyond very basic habitability standard, they are sold as moderate fixer-uppers to folks that have the skills or connections to make the necessary repairs and updates.

A buyer could set the basic terms in an offer, interest rate, amount, amortization and loan term, anything could be offered.

Given that, I'm guessing that you're not going to get the information you need in this thread (unless you know all the basics already).