@Cheri Banet To do a cash-out at a higher value, you have to let the purchase season for 6 months.

Even under a (wholesale) contract, a conventional buyer doesn't work due to Seasoning?

A seasoned buyer should be able to evaluate a deal based on general numbers and cap rate and other factors.  

@Jordan Abernathy, If it was an older person, she most likely still had/has a landline phone (crazy, I know!).

I'm using the winter/down season to learn and looking to pull the trigger on my first property in Spring.Thanks in advance for your input!

Merry Christmas to you as well and remember the reason for the season! 

If your business is seasoned ie 2 yo or more your business can obtain a line of credit.  

Older than A, lower income than A, can be value-add dealsC: usually older than 20yrs, in need of renovation; often are "cash cows", lower rental rates

Pay cash ... after your original house is "seasoned" you can cash out refinance your primary and count income from the first against your DTI.

I thought there was a seasoning requirement of 6 to 12 months.In other words, be able to refinance cash out (since it was purchased in cash) 6-12 months after purchasing.And fyi I think you picked the best choice... going with 70% LTV so you have more cash on hand to continue investing.