My intention of paying cash for at least my initial property is that I am in the process of raising my credit score.

To give them credit, they would always send one of the maintenance people within 24 hours, but they NEVER fixed the main problems with the HVAC system. 

I managed to save up a little over $30,000 to go toward my next rental, my main question is what would be my best next step to facilitate that goal.

I’m currently in the process of a Cash Out Refinance with a local bank to gain access to the equity with the intent buy more rental properties.

For my acquisition: I am planning to counter w/ - No money down- take over the note -pay the seller $2000 a month with the intent to refinance in 6 months ($12,000)      - I will handle the rehab costs for the vacant unit (which is about $20,000) and lease all vacant units - Once the refinance has been executed I would pay the rest of the balance of $295,000 the seller wants. ($283,000)If I were to put it under contract I would offer the following: - buyer will pay off the balance of the note ($295,000)- Seller will receive $275,000 in cash because buyer will cover the rehab cost to receive the Gross Potential Monthly Income- Seller will split the closing cost 50/50 with the buyerI would love to hear some input from the BP community.

I’ve mainly focused on out of state rentals so far but I just moved here a couple months ago.

I'm not trying to discredit or devalue what you guys do, definitely worth every penny.With this property I fully intent to use engineered plans in the future as I build self storage and boat & RV buildings.

"Deposit 123 Main Street" .

With a possible very long term investment potential but that is not the intent.

I had no idea about these terms and vocabulary used in evaluating rental property.My main question is,   What is a decent, good, and great number to achieve on rental houses in general  for these categories;Pro Forma Cap RateCash on Cash ROIPurchase Cap RateIncome-Expense Ratio 2% ruleDebt Coverage RatioTypical Cap RateGross Rent MultiplierBoth houses of rentals of mine, or single family ranch house.