•Repayment Strategy: Consider how the repayment terms align with your financial goals and cash flow needs.

Your approach to purchasing and rehabbing a house with cash and then considering a cash-out refinance is a solid strategy, commonly referred to as the "BRRRR" method (Buy, Rehab, Rent, Refinance, Repeat).

Best strategy is to look into rougher neighborhoods, get creative with financing or find off-markets. 

Remember, home buying is a marathon, not a sprint ;) With patience, guidance, and the right strategy, you'll land the home that's right for you. 

Of course, quality landlord insurance is a useful risk mitigation strategy.  

Should I go for it, and if so, what would be the best strategy to use?

BRRR out-of-State is a great strategy if you have a good team of people in the area you are looking to invest (realtor, property manager, and contractor/ project manager)- a team you can build through BP. 

Using the equity from one investment property (Property A) to finance another (Property B) is legal and a common strategy among investors.

Looking for a fiduciary financial advisor to help map out my investment strategy and ideally a path towards FIRE.

I will be using BRRRR strategy