This is a difficult and aggressive strategy, and it means you'll spend much more time upfront finding the deal; this goes without mentioning the risk of doing this while managing a family life and a busy job.First step is understanding if that cash-out refi is even an option. 

From what I understand, St.

You must also understand how to "run" and LLC in order to get any benefits from it should you be sued.

I've been considering purchasing properties in higher crime areas and want to understand the full picture.

They tend to focus primarily on self-employed, operating businesses, so their understanding of self-employed borrowers will tend to be better.

Yes, there are rules that you must understand and follow, and most importantly, have a trusted advisor who can come for guidance.

In order to obtain homes in a competitive market, be open to investigating various financing options.Off-Market Deals: Take the initiative to look for off-market deals by using internet resources, direct mail campaigns, or money-driven searches to locate motivated sellers who might be willing to sell their homes for less than market value.In the end, success in the SLC real estate market comes from perseverance, understanding the market, and being flexible enough to adjust to shifting circumstances.

@Chris Brall, it doesn't sound like you understand clearly what went wrong the first time around.

I understand that I can deduct repairs and maintenance, though not improvements.  

HI James, I understand not wanting to share your "Honey-hole", but what is behind these numbers.If he invests half of his Capital that is $300,000.  4K net annualized is a 16% cash on cash return (very high).In addition to the 16% you can get $1,000,000 in appreciation over 5 years, that is $200,000 per yearIf he leveraged $300,000 at 4.5 to 1 he can buy $1,350,000 in total property value