Hi guys, i have been investing for a while and only recently (past 4/5 years) explored options outside of my comfort zone and luckily this has been with great success.My previous model was as any first time or newbie investor should be following which was to buy in my home town, in an area I knew and had friends/family living there or I was living there myself to keep an eye on things.

I charge a pet fee of $50 in my rental and we worked with lawyers and an agent when we rented out our property for the first time (I don't plan on shelling out that much each time we turnover - but it was good to use professionals to learn they model).

We have to believe in the current market, we can replicate this model, with some variation.Recently heard a quote that really rang true:If you are not working to achieve your own goals, you are working to fulfill someone else’s.Goals?

I have since determined that a "wholesale only" business model didn't make sense in my market because I was getting great responses with Jerry Pucket's letters, people wanted to sell but their properties were in retail condition.

Here, a 15 year at 4.5%, it shows a starting return of 14% even though the overall return via leverage is 9.7%.I think I've built a pretty good Excel model of these returns.

I own and cohost, I do not master-lease but I am sure there will be a mix of all 3 models. 

Keep in mind at least to the extent with civilians are selling their owner occ home .. many have thousands to hundreds of thousands of dollars worth of possessions.. you let the public just walk through your going to have big problems.. 

I also have a lake property (Lake Tahoe, CA) and use the 'vacation home for free' investment model. 

The financing model for those are completely different. 

Cash reserves are key, regardless of the business model (flipping or holding).If you are going to borrower money - local money will be cheaper than non-local.