Knowing your exit strategy is essential, regardless of whether your goal is to keep onto the property for the long term, sell it for a profit, or switch to another investing approach.Your choice will ultimately be based on your tastes, risk tolerance, and investing goals.

I am based in Las Vegas ,NV  -- was thinking about acquiring some rental properties in mid-west, possibly TX, AR, TN as well....what your take on it?

Pay the bill yourself, then reimburse yourself by charging the tenants based on a formula.

HODL.Here are my pros and cons for each:### $100K-200K ### <-- More Active InvestmentPros- Higher Price to Rent Ratio- Fast turnaround to purchasing next property (6 month before ReFi)- Value Add repairs can improve house value a lot- 3-4+ purchases in 5 years = More Learning Opportunities/NetworkingCons- Higher Risk of Bad Tenant- Maintenance Repairs- Lemon Purchases### $300K+ ### <-- More Passive InvestmentPros- More equity to draw from down the road- Good Neighborhood- Family Tenants are saferCons- Higher Operational expenses (Taxes, Insurance)- HOA Limitations- Typically recent builds/renovations so not much room for Rehab- 1-2 purchases in 5 years = Fewer Learning OpportunitiesI know that there is no one solution.

My guess is, based on the discretion you offered, you're probably looking at a commercial loan product.

I'm happy to give my opinion/response which is business based and not grounded in real estate law.

There relationships are based upon an unequal teacher/pupil dynamic that is not helpful to either party. 

While friends' opinions can offer insights, trust your own judgment based on personal familiarity and research.

An additional benefit of a detailed engineering-based Cost Segregation Study is that it can increase potential insurance premium savings as well as provide support for the property tax appeals process.

Your value based on a 16x GRM at $1200 a month in California is $230,040.