David Greene wrote "Long Distance Real Estate Investing" which gives you a great tutorial, but I suggest looking at deals in the Midwest or the Southeast to allow your portfolio to get a good base of cash flow, and then once you are ready for some more appreciation focused deals, you can change your target markets.

Is there any conventional residential loan options anyone is aware of that would allow cash out refi with less than 12 mths seasoning?

As you'll see in the other forum linked above one of the suggestions was to notify the tenants that they will be responsible for 50% of the water bill.Another thing to consider, I'm not sure on Columbus but I know certain municipalities do not allow you to charge for a utility if it is not individually metered.

Tony, in this market, the lowest per sq/ft cost an underwriter would allow is probably around $70-$80, that would bring the minimum insured value around $300,000. 

You could do delayed purchase financing, this would allow you to refi without the seasoning but you would only be able to pull out 80% of what you paid + 80% of your completed rehab.

People's way of doing business changed. 

My main question here is if FHA would allow that as I am sure there are more guidelines regarding FHA loans.

So while this does not give me immediate access, I can have the money back in checking to cover a bill in 2 business days or less, which I have yet to have any unforeseen expense that needs paid faster than that.

We won't do business of any kind there any more.

Hi everyone,I’m about to renew the lease with my tenant, who has requested a change to allow subleasing.