Ideally you wouldn't have to rollover your profits every time and just use your start up capital, but if you don't have that capital you are basically rolling over your profits to put together that capital and then maximize your profits by financing your own deals.

It's averaged about 2-3 weeks for me and often times it's only that long because I'm taking my time getting the property ready or turning down non-ideal applicants.

So all other factors being held equal, Texas might be the best bet.

Ideally I'd like to buy and hold.

Personally, I'd factor in the cost to put each unit on it's own electric and water meter in my offer to purchase.

One factor left out so far is income tax deduction implications due to the unit that is below market rent ...

Whatever I end up doing in Real Estate, I want to be making a contribution and a difference in the lives of those I deal with.

Ideally I'd like to flip houses to fund my acquisition of rental properties, and use the rental income to get out of the "rat race".

Lots of factors to consider, many already mentioned by others.

On conventional loans for investment properties I know they try to stick to around 45%, but will go up to 50% with high compensating factors (credit score 720+, high cash reserves).