For example, if I can get $1,000 in rent for a $60,000 property (no appreciaition), and only $1,500, for a $150,000 property (w/appreciation), the decision is pretty clear for me, as I invest for cash flow at the moment.

@Joe Cassandra, yes there is much uncertainty in our economy at the moment, but isn't this the best time for investors to get actively involved? 

I'd try to identify one realtor in each area and see what they can do in their geographic sweet spot.But you've landed on the 4 most active investors markets at the moment. 

In theory, any lender should be able to average the last two years of your wages (W2 & 1099) - that said, you likely still need to show proof of some kind of employment at the moment but a 1099 should work. 

We’re renting at the moment and live a frugal lifestyle.

I can't get a fully straight answer about the rental market at the moment, everything seems too volatile, but it does mean we'd have some time to spruce up the homes and get better rates.  

My only weakness at the very moment is the available cash other than the properties we have with the substantial amount of equity in them.

The moment you start paying yourself it is going to slow down the growth of your business. 

If you are buying rentals for the long run the equity at any one moment is less important than the monthly cash flow numbers behind what you buy.

I could give up and find a place to rent but sacrifice my ability to save and move forward with my dreams, or I could grit my teeth and allow my pain to push me. so in that moment i decided in the fall in milwaukee, to live in my car and bear it out while i saved with my fiance.