I don't know about you, but in 30 years I'd rather be sitting on a million-dollar asset that I own free and clear (because someone else paid it off for me) that is generating multiple, multiple times the rent I was collecting when I first acquired it and in which I can fill a vacancy with a qualified tenant within two weeks because the area is so desirable that it can't keep up with housing demand than on some boondocks asset that I only purchased because it was the cheapest thing around and "cash flowed" $200 per month on paper but barely appreciated over the years and whose rent appreciation has marginally kept up with inflation and takes me three months to fill a vacancy with a "qualified" tenant who even then might get behind on rent because his hours were cut at the gas station 30 miles away (true story; my tenant worked at a gas station in Boron--only job he could find).Personally, I'm keeping my 4-unit in Santa Clarita and investing in development deals and notes until an incredible off-market deal lands in my lap (keep dreaming, Logan) or the SoCal market cools.  

The architect is very clearly irritated with the situation.

I have worked with this wholesaler on multiple projects How did you finance this deal?

If a new investor comes in with a 300k purchase and a 200k rehab in a high end market where it will take 3 months to sell, a lender will not be so hot to lend a newbie in that situation.

It's great to see a post with actual common sense on here regarding this NAR situation.

Hi Layne,Any lender who does FHA or conventional should be able to talk you through this and it is a very common situation.

Considering your situation, holding onto your current duplex with its strong cash flow and exploring refinancing later when market conditions are more favorable and you have built up more equity seems advisable.

I have spoken with multiple investors who have chosen the out of state investing strategy and its definitely worth a try.

To evaluate your situation you need to get a handle on the expense side of the equation

Abdullah - I think you need to have multiple "sticks in the fire" to really get the deal flow you need.