When you sell using a 1031 structure you are not going to pull cash out immediately following the same or that will trigger taxes.

As the church is the borrower, there is no need for personal income/tax/credit verification---lending decisions are made in most part by the church's cash flow using one of the two following approaches:- Traditional DSCR approach (common amongst commercial lenders)- Multiple Income approach (giving value to collections, donations and using a multiple ranging from 2 to 4 times the Church's total income as a basis to determine max. loan amount).

Using the 50% rule I would have to offer 30k for the first home to cash flow almost $100 every month at that rent using a 30 yr loan...

@Kim Handelman Understand the difficulty but always prefer being local, even if using a manager it's nice to be able to be there if issues arrise. 

I am wanting to buy 2 single family homes using a conventional loan or 2.

., selecting a cap rate that reflects the value at the most recent sale rather than using a true "market" cap rate).

So yeah, it can be done without using a ton of money.

I got started by using a "team" that was already in place through HomeUnion.  

I will plan on using as a rental and wanted to get thoughts on any experience anyone has with property with railroad tracks nearby. 

Also, you won't get a $75k property for 50k just because you're offering a cash purchase, verses using a financed purchase.