With this preapproval in hand it was time to start hunting!

@Sunny Texas Have you already found a property or are you still in the hunt? 

Combined ROI is at 28%I'm on the hunt for one more duplex.

there are lenders hunting for deals and will do them with less than the best sponsors as long as equity is there.. and whose equity is it at risk its the little guy.Just like in your area of interest NPN.. and those that just take class's and learn from a guru and then are in the note business with very little practical experience.. and are going to create a note fund.. you know how complicated your business is.next thing you know they raise a million bucks but have to pay that pref day one from funds coming in... next thing you know panic buying of notes have to get that income coming in to off set the pref.. right.. and that's where less than the best decisions are made.. 

I've been hunting smaller MF (2-20 units) around the bham area for about 7 months, reach out regularly to my broker contact and even sent him an Amazon gift-card for emailing to me the deals that were already on Loopnet (I've not yet earned his good deals), analyzed over a hundred deals (mostly SF), consumed literally 99% of the BP podcast, and I've still bupkis to show for it.

I have some cash reserves, plenty of skills for renovation, and on the hunt.

The cost is negligible compared to the utility provided by an ACH service, especially once you begin scaling up (nobody wants to hunt down envelopes of cash every month). 

It is not the easiest thing to hunt down but I'd be happy to help and would free up a little more cash.

I suggest to sell and start hunting in areas where it makes sense that cash flow well and have appreciation factor.

@Aaron Hunt I guess it's a good thing I have a lower standard for where I'm willing to live then :)