If you're investing out of state, you have a lot of options to choose from since you're not limited by geography.

We try networking as best as we can but starting out has us on a limited scope.

Condos typically have higher interest rates on loans, are harder to sell/have more limited exit strategies etc.

Do you still see tax advantages of depreciation and how can you limit your tax exposure when you are cashed out at the refinance?   

Others will say as little as possible, I like doing 20 percent as it helps limit your risk some.

One large area of interest really is trying to figure out the best way to obtain funding without paying too large of fees that the deals no longer become worth it, but at the same time, I feel like if I stick to conventional investment loans, I am putting 25% down, which ties up a large amount of capital, and more than that, I am forced out of all cash offers and short closes which dramatically limits my opportunities, which is not wise.

I've been reading these forums like it's my religion and I came across a post recently about FHA loans and how the limit is 4.

We aren't far into negotiations, I'm just doing my research.Also, this lot is zoned duplex, which makes it more valuable to me, but really limits the comps.

With three kids and a wife not working that will likely be the limit of your investing for the foreseeable future.Stay where you are till the youngest starts school and at that time get your wife back out working and then look at moving up in your personal home.  

Unfortunately, the appraisal is one thing that seems completely out of your control.