If you find a Duplex or greater for under $250K and with rents common to the market at or above $1200 a door then you have some cash flow. 

But if you do want to invest out of state where cash flow is higher, I think it's worth narrowing down where you think the best markets are and then find a way to take a trip for a couple days or so. 

I am not against LTR but would like a higher cash flow property since my wife and I are already in our early 40's.

It’s not necessarily more difficult than market-rate rentals, just different.If you’re seriously considering this route, feel free to reach out.

It frees up your time.  

So yeah, around $25k in cash. 

Purchase price: $20,000,000 Cash invested: $13,000,000 Sale price: $20,000,000 This property is not for sale - per-se What made you interested in investing in this type of deal?

Because real estate always goes up and the maintenance fairy takes care of all repairs free of charge.Seems like a recipe for disaster. 

The cash flow does improve with the hold .  

@Jonathan Blanco, I'm and investor and a licensed mortgage broker so I've been on both sides of this conversation.I would look for a lender that (1) listens to you and understands your strategy and needs (hint: it's not always money), (2) has experience working with clients executing your strategy and brings more to the table than just cash - be it advice, relationships, deal-team partners, etc., (3) gives you viable options and explains the pros and cons of each option and (4) you enjoy interacting with - this should be a relationship, not a transaction.Once you find a few lenders like this (and you should have relationships with more than one), then you can start comparing rates and fees.