The plan is to come in and improve the NOI over the next 12-24 months then implement a strategic cash out refinance and move to long term permanent agency debt.

I want to purchase out of state for a number of reasons (Landlord/tenant laws, tax purposes, purchase price, cash flow, etc...) 

And by positive, I am, positive cash flow.  

Are you closing with cash? 

With a 700 credit, and solid property income, you should be pretty solid to pull cash out of that property.

Purchase price: $194,500 Cash invested: $42,000 Fits the perfect long term cash flow model

Hi,For one of my rental in San Diego,CA which i listed for rent around $5K per month I am getting clients who want to pay all cash for a year.

Fortunately, all three inspectors (from different departments) were very supportive and one inspector even stated they will not return, even if another complaint is filed.I want to offer a cash-for-keys option, but since the tenant's attorney is from a nonprofit, I feel she will fight for her tenant to stay.

I have the cash to put down 20% for the build but I want to keep it to put it into another rental property after this is complete. 

Moreover, given current market conditions and rates, understand that most markets only offer cash flow if you implement a creative strategy.