By the way, that's 50% ROI right there- cash flow $60.000 per year or roughly $300.000 in five years - without a rent increase- with 3% appreciation and principal pay down you reach $1.1M in equity in year 5 (from 400k down)Before someone shoots me here - these numbers are very rough and just to illustrate the principal - play with the BP calculator for details. 

But $15,000 in equity is not too shabby after the rehab.

But you need to reconsider what you're trying to do if $97/month to access the millions in equity you need to make millions in proft you want is too pricey for you.My only other advice is to get out there and start networking.

I have a pretty significant amount in equity/debt investments for a graduate student.  

Long story short I ended up closing on this house for as little as $5,000 outta pocket, with no experience and having the house appraised over $200,000 with a little over $45,000 in equity.  

Where I do need to be careful is things like utilities as those will mess up the 50% rule pretty quick and create an apples to oranges comparison.IMO, I don't know why anyone wouldn't take 30 year financing... the opportunity cost of tying up cash in equity versus reinvesting it right now is HUGE.

A decent cash flow play with some built in equity.

I'm not into RE investing and only invested in equity, 401k etcThx

There is 250k in equity in property.

We'll have to refinance in 5 years with traditional financing but in the meantime it cash flows well and we have built in equity.