But if they are seeking to hold a property for any length of time and want their cash investment back there are some important rules to understand with conventional loan:If you buy a property with cash (or with a HELOC) you can receive a cash out loan on Day 1.There is not a 6 month waiting period with receiving a cash out loan if you purchased a home with cash or with a HELOCBUT you will be limited to the amount of....Your purchase price + closing costs (costs when you purchased the home)OR75% of the “After Repair Value”...WHICHEVER IS THE LOWER AMOUNT (super important)These rules are important to understand so here are two examples:Example 1: If you purchased a home with $50k of cash, and put $30k of renovations into the loan, and the home was worth $100k. 75% is $75k and $50k is your purchaseprice.

We don't have $120k cash, and the home needs some minor repairs before it is lendable (probably around $7k), and it's a foreclosure and they will MOST LIKELY not do any repairs before closing (they're looking for cash buyers obviously). 

I like TenantCloud, user interface is nice and problems are usually handled promptly.

If they don't pay up within the 3 days, then start eviction promptly.

And those 3 rental properties , one is doing fine , the second one the septic failed and you need a advanced system for $20K and the last rental the tenants didnt pay and you have to evict and repair $ 10k of damage ,Now , you were saying something about paying yourself ?  

In a few months, a dog could destroy cupboard corners or doors that require LOTS of repair $$, and a long vacancy, and the tenant will not understand what it will cost me, so there could be a big disagreement over the withheld deposit.

I gave my contractor a deposit in December and final payment in January for a large structural repair job on a property that is partially personal (I live in one room) and partially business (my LLC) as a vacation rental.Now I need to send him a 1099 and send the IRS a 1096 (late on both of these, I recently found out), and figure out which tax year to apply the payments. 

Finally, I can buy a SFH all in closing/repairs for 13k.

Usually minor things aren't going to get you much but major repair items will, like the roof needs replaced or it has cracked rafters or floor joists. 

I usually travel to Austin and stay with family as well as spend a significant amount of time looking at and making repairs on my two properties.