Criteria: SFH - North Austin Suburb ( Leander, Round Rock, Pflugerville, Georgetown, Hutto etc.)3+bed 2+bath1800+ sqftPrice - $250 - $300k Not looking to do major rehab probably kitchen bathroom floor paint.

@Brent ChristensenA couple more questions for you with a quick hypothetical scenario to better explain: To keep numbers round, if my end goal is to receive $1200/mo ($1000 for rent and $200 for utilities) - When you charge "rent" - how are you advertising/verifying someone's income?

I showed clients round it before it was flipped.

Cedar Creek and Round Rock have stood out to us so far but open to explore other areas.

For the sake of round numbers, let's say we have $40k liquid to play with after reserving money for closing costs of the first property and 6 mos of rent reserves. 

I just don't see how you can successfully do them in markets outside of LA, NY (where there is never ending demand) year round.

You’re not wrong, that article played out and I’ve met people here because of that program; there’s talk of a round two, as well.

Even if you’re not planning on paying full price, you should still submit an offer.If the broker determines that your LOI and your credentials warrant it, you will be invited to the best and final round.

Seems to be the other way round than what you mentioned.

That means your seller-financed loan is $1m.Typically, you will refi at 75% LTV (depending on your market and the property, you may very well be able to get 80% or even 85%, so speak with some lenders/mortgage brokers to a get good idea of what will be available down the road).In order for you to pull out the $1m to refi, the property would have to be valued at $1.333m ($1m/.75 (75% LTV)).In order for you to increase the value of the property $84k (the difference between $1.333m and $1.25m (I'm rounding here)) at a 7.2% cap, you have to drive NOI higher by approximately $6k/year, or $500/month.So two things - does that seem reasonable based on what you know of the property and the market?