Now here is where It gets interesting:All three properties were given to me by my grandfather..

Two years ago I purchased three properties in Florida all totaling about $110,000 including rehab costs, it has taken me two years to pay off all of that debt I borrowed money to make these investments of course (using a hard money lender).

As of now, I owe $70,000 plus a $43,000 HELOC on my primary.I owe $52,000 plus a $50,000 HELOC on rental #1I owe $70,000 on rental #2 and have a $76,000 untapped HELOC.I owe $90,000 on rental #3 without a HELOC.I owe $96,000 on rental #4 that i have a lease option due in 1.3 years at $165,000.I will acquire rental #5 within the next three weeks.

As of now, I owe $70,000 plus a $43,000 HELOC on my primary.I owe $52,000 plus a $50,000 HELOC on rental #1I owe $70,000 on rental #2 and have a $76,000 untapped HELOC.I owe $90,000 on rental #3 without a HELOC.I owe $96,000 on rental #4 that I have a lease option due in 1.3 years at $165,000.I will acquire rental #5 within the next three weeks.

I have called three major insurance providers and each has an endorsement / rider for sinkhole damage for owner occupied houses, but none of them offer a similar endorsement for the rental property (DP3, fire, or landlord policy). 

Keep in mind you can change the lease agreement as long as the tenant agrees, even if you are only three months into it. 

Heaven forbid, but how many projects that won't cash flow or don't produce decent ROI at 4 or 5% will cash flow or produce sufficient ROI at .5 or 1% interest?  

This month's meeting was postponed until next week on the 18th because we have a guest speaker, John mccants will be teaching a three day workshop on buying houses at foreclosure auctions starting Thursday February 18th at 6:30 p.m. until about 9 p.m. then on Friday we will be going to the foreclosure auctions at the Spokane courthouse that will run from about 8 am until noon, then the final day is Saturday from 9 a.m. until noon.

This is known as the self-sufficiency rule.

If you want to buy and hold, and you aren't finding satisfactory properties in your price range that will produce sufficient cash flow, go East and perhaps a bit North too.