This is because at the current rates, a high LTV property (which is required to extract rehab costs) bleed cash. 

Ask to see a copy of the lease and look for the length of lease, current rent amount, tenant obligations like paying for utilities and adhering to house rules and look for Landlord obligations like things the landlord may currently being paying for (like trash and water)Make sure to have an assignment of the lease and clear language on the security deposit WITH interest shall be transferred to the new owner at settlement.Consider tenant quality - what’s their payment history looked like, obtain rent receipts or bank statements from the seller to review on-time payment history.

Hey Jinesh, I would highly recommend taking it slow.

We've considered home equity loans, HELOC, even credit card with high limit and 0% interest for many months.  

Im looking to buy within the next 3-6 months and its making  more sense to buy a single family home due to high cap x with multi-family properties.

If I'm looking at buying a townhome or condo and the HOA is high because there is a nice pool and nice gym. 

I'm live in Old bridge, NJ and due to high property taxes in New Jersey, PA seems like the best state to invest in(Tavel time ) I'm trying to identify rental markets and research, while trying to establish a team.I've done some research and came up with a few areas in PA include Allentown, Lehigh Valley, Bethlehem, Scranton, reading and Kutztown I'm hopping to cash flow between $100-200 per unit is possible (with property management), and can reasonably expect some appreciation in the next 10-20 years (2-4% per year would be ideal, though achieving positive cashflow on my first purchase is my #1 focus).

I would love to be part of something like this, and I am highly motivated to get involved in real estate.Thanks!

Trust me, I've toyed with the idea.Vacant land where it makes sense to build large MFH stock might make sense, but chances are this isn't the land we're talking about here.The reality is most vacant land in Detroit is being repurposed for parks, the Joe Luis Greenway, solar farms, neighborhood gardens, etc.Beyond that, let's say you plan to hold long enough for SFH prices to get high enough where it does make sense to build. 

Despite the headwinds, sellers continue to see home prices grow, buyers’ appetite for housing remains high and bidding wars are still occurring.