It has been a great ride so far - I am glad to say that all the deals I have worked on have worked out well so far with an average 13% CoC return after using Property Management.My formula has been to stick with homes that have a 3/2/2 config, brick exteriors, built 1970 or newer, in a good blue collar neighborhood, costing less than 130k.

Why settle for a couple hundred dollars of cash flow buying in markets we don't know much about and may get taken for a ride if we're hooked up with the wrong party?

It's been a fun ride thuse far.  

Anyhow, I agree that borrowing covered debt now and letting it ride for as long as possible is the best strategy right now as a play against rate hikes.

Enjoying this current ride in a strong real estate market.  

Most FHA requirements require you to live in the property for a year or so before you would be able to move onto another one in similar fashion and you would not qualify for the first time home buyer for your next purchase.

Continue to invest because your W-2 isn't going to make you wealthy, but just take the ride and don't think too much about it.

We let them stay, but we got them out much later when more damage was done to the unit, including riding a motorcycle into the living room to escape the police.  

Add in a few more bucks if they had to actually disassemble the drain in any fashion.

End game would either be for me to refi in 12 months to cash investor out and them repeat, or let it ride until the investor wants out.