States with landlord friendly laws, low property taxes, job and population growth, and low insurance premiums are all good places.

Purchase price: $935,000 Sale price: $1,300,000 16-unit value-add multi-family purchased for $935,000 with no additional net investment as CapEx has been funded from reinvesting a portion of the cash flow at the property.

Reno is much closer to Phoenix in being Landlord friendly and business friendly.

I am looking to cash out refi here soon to pay it off and use again to purchase my next rental property.

A third party likely purchased that debt from the original lender (uncollectible by typical debt collector standards) for pennies on the dollar. 

I'll explain...When you purchase a property with existing tenants, who have a lease in place (in MN you can also have verbal leases), you'll inherit those tenants and the leases they signed with the seller on closing day. 

My BUSINESS is real estate syndication (primarily notes we originate or purchase, but also property).  

I am going to try and remote self manage and see how that goes but if it is tough I may use them for my next purchases.   

Be smart about what package you choose to purchase. 

Ko how about if both homes were purchased together since its the same seller?