If it's a good income producing property, you could get up to 75% cash out of the value.

Thanks in advance for your help!

That drive is quite a drag, especially when I travel 15-20 hours to Europe and land at midnight and have to drive another 2 hours back home in Sedona.I'm thinking of buying a small condo in a decent area not too far from the airport, that I can also STR while I don't need to use it (which would be 95% of the time) and offset the mortgage with... maybe even cash-flow a bit?

For example a buyer of a $500k home with an assumable (existing) mortgage balance of $225k would need cash to close of $275k plus closings costs.

Requiring renter's insurance (separate from your property insurance) is also very important since they typically would not have the cash reserves to pay for a major damage such as water damage, ruined floors, fire/smoke damage, and you will be sued by 3rd parties if something happens to them while at the house if they have to go to the ER. 

Great paying tenants in place and it cash flows even with my almost 10% DSCR loan.

Purchase price: $18,000 Cash invested: $245,000 Sale price: $335,000 New Consruction spec home built with the help of a hard money loan from Upright (Fund that Flip at the time). 1420 sqft, 3 bedroom, 2 bath home on 1.8 acres.

My goal is 2k a month cash flow.

Purchase price: $168,000 Cash invested: $40,000 Sale price: $299,000 What started out as a family friend needing out of their home due to financial hardship turned into an incredible project for us.

Purchase price: $127,250 Cash invested: $110,000 Sale price: $390,000 This was a fantastic flip opportunity my investor picked up in the coveted neighborhood of Mt.