It would also lessen my out--of-pocket on either hard money costs or cash I spend, so I'd have more to work with to acquire more properties.

I am looking to cash out, so i would like to know if i should be adding more money into the rentals such as painting/roof upgrades?

But I also think the real gains in real estate are not in cash flow but in long-term appreciation.

or can I already start ASAP even without big chunk of cash in the bank? 

Only exception is "blood or flood" emergencies (everything is an emergency to a tenant).3) whatever your tax professional recommends.4) Any way but NOT picking rent up or accepting cash - unless tenant direct deposits to your bank account.5) You'll want to improve your lease over time as you deal with tenant issues.

But in the competitive Los Angeles market, I had to put up additional cash on top of the deal in order to have my loan taken seriously.

I cash flow about 7k a month after expenses. 

Purchase price: $155,400 Cash invested: $40,000 Property is located in Cuyler-Brownsville an historic district within walking distance of popular Metropolitan District of Savannah GA.I purchased the property to get started in the real estate space, however I value the walkability of the property, its proximity to parks and nightlife.Although the area is a rated roughly as a “C class” neighborhood.

(This can take more time and more upfront work for an agent). 

Thanks to both of you guys.I'm planning this sale as a cash deal, so no real estate agents and the buyer has several other duplexes in the Peoria area (3 of them within two blocks of this house).