Although the days of cash flowing a house hack are gone (for now), cutting your living expenses down and using OPP to pay most of your mortgage is pretty great!

They get scared of the mortgage, maintenance, property taxes, etc. 

What I know about this house is that there should be no mortgage (messaged realtor to verify), last sold for $60k in 2004.Rent in my area; $1,200 is usually pushing it but doable.https://www.realtor.com/realestateandhomes-detail/200-Walnut...At the end of the day, I love the idea of seller financing but I have many more questions when it comes to different types of properties that might be mortgaged and how does one pay the monthly payments on top of paying the equity to the seller at the same time.

Hello I'm curious if this strategy is theoretically possible to expand super fast wealth as below:For example, I buy a rental property for $70,000 in cash and then immediately did a cash-out refinance to get $56,000 in cash (I know usually it takes 3-6 months season to cashout refi, but as long as one lender is able to do refinance it) I then use $24,000 of the $56,000 I borrow as a 20% down payment to buy a $120,000 rental property.

I assume you have to get the mortgage in your own name as you can’t get one in the name of the new LLC.

There are lawyers and lenders involved.

With conventional mortgage rates hovering around 7% for 30 years… cash flow basically happens at 6.5% cap rate and above.

Payments are to be handled by outside/3rd party escrow (mortgage, taxes, insurance, etc), vendor to be determined prior to close of this escrow.  

Primes setup makes it extremely difficult to access capital from lenders.

BiggerPockets is a really great place to ask questions and connect with other investors, lenders, contractors, etc.