I also know that this strategy is often used to leverage available cash for multiple deals.However, as a new investor, I've decided to focus on purchasing one property at a time and go through the learning process until I complete a refinance.Only after receiving the funds from the bank would I consider rolling into another deal or multiple deals.In this situation, do you think it's better to still take the 80% loan from a hard money lender, or should I use the cash I have and purchase the property outright?

We are both physicians and relatively intelligent humanoids, but without knowing what you don't know, it seems a difficult task. 

Any tips on how to find them from out of state?

I am trying to make sure I am only enforcing the lease and not reading it with a biased perspective.I would happily consult an attorney for a reasonable fee (any recommendations are welcome.)The original annual lease had an end date of 3/31, if that is helpful to know.

I mean how much are you overpaying for that rate.Whats the actual value, what would be the purchase price?

I know that's not many yet, and I'm still new, but I'm curious what you all think is the percentage of tenant that DON'T lie. 50%?

Add in that our violent crime rate is almost 2x that of Cedar Rapid's, and our property management options are terrible, that is how I arrived at my answer!

I’m curious to know how you funded your flip deals, especially the first flip (or first few) as you’re getting started??

Start collecting rent on the 2/1($1650 within 45 days from close).So the question.. how do I tell if this is a good deal?  

It’s a valuable tool to help you know if you are building wealth and progressing toward your financial goals.