I'm also unsure if I should use a 203k loan to finance the rehab, I'd prefer to do the bulk of the work myself and bringing in trades when needed and then refinance to get cash out when we're ready to purchase the next MFH, so I could see there being more savings if I self finance the renos through one of my 0% apr credit cards or just pay cash. 

I also utilize a self-directed 401K and at times use private investors or hard money.  

.  :-/  Could be self-managing just as easily. 

Hello and Welcome I started out very early in construction my self.

Heaven forbid, but how many projects that won't cash flow or don't produce decent ROI at 4 or 5% will cash flow or produce sufficient ROI at .5 or 1% interest?  

This is known as the self-sufficiency rule.

Now with the internet and self serve website like zillow and etc, I'm trying to see how realtors will continue to survive in a world thats changing toward self serve to sell your house as well with so many entrepreneurial investors helping homeowners sell and buy.I'm not here to debate about realtors but, I think the realtors may soon become like the old CD getting replaced by ipods and itunes.  

If you want to buy and hold, and you aren't finding satisfactory properties in your price range that will produce sufficient cash flow, go East and perhaps a bit North too.

I am self employed and looking to invest in rental property In El Paso, Texas.

Note to self: Avoid applicants who have their own attorneys "on retainer".