Still possible to get 15-20% Cash on Cash returns!

We financed with our own cash and builders lender to take advantage of incentives.

Purchase price: $674,000 Cash invested: $134,000 Long term rental purchased in area that is under development and predicted to rise in value over the next 5 years - 2br 2bth

Do you have any cash available to buy an investment at this time?

After crunching the numbers I'd be cash flowing around $600-700/month if I hire a full service manager (and this is without accounting for any repairs, which it does need).

Even if its cutting the warranty off, sticking to manufacture warranties, and saving the cash to pay for expenses when they come up.

Edna~ I know you are looking to invest in cities closest to the Canadian border, however, I would encourage you to cast a wider net as you can find some excellent cash-flowing properties throughout the SE USA. 

EXAMPLEYou cash out $100,000 of your equity and use this as a down payment on a $400,000 investment property.

Actual Cash Value:  The definition is the Replacement Cost minus depreciation.  

Purchase price: $195,000 Cash invested: $35,000 Single Family home near Lake Texoma.