Edge,In my areas rates range typically from 6-12%, with vacation and short term rentals (<6 months) around 20-25%.

Investing out of state is difficult as well unless you can get into a triple net lease or a large enough commercial residential place that can afford full time management and still cash flow (the do exist in this part of the country).Only if there was a way to sell short in real estate like you can do with stocks.

On the surface, it looks like the interest-only is a better deal (less down and less per month) accept that every interest only loan that I know of is variable and has a relatively short balloon date.

I was fortunate enough to find a REO deal after the divorce and shortly thereafter the market really took off where I live in FL so I have a fair amount of equity in the property even ater a home equity loan.

I'd like some input as to what my best strategy would be to inable me to generate short-term cashflow in order to go fulltime and also to build wealth.

Ive been a member for a short time now and I'm amazed how effect it is as a place to exchange and network.

I posted this under the rehab section - though I might get more play here...Short version of my question :After much research I believe it would be relatively easy to consistantly turn houses for a quick $10-12k net profit...on a 90 day average turn.

If not, I wouldnt have an issue hiring one, so as long as Im not operating at a loss (of course).However the reality, so I have been told, is that it would take a long time to make any real equity or other profit from a rental unit, and thus, would make it hard to purchase additional property in the short term future.

Most commercial lenders are not so much concerned with the borrower's financial record and qualifications as they are about the mortgage property value.As opposed to banks, commercial lenders are able to give funding commitments in a relatively short amount of time.

With a decade of experience in commercial and consumer lending I have been appointed by the San Jose Investment Corporation of America as Managing Partner for the Greater Charleston/Coastal Low Country area of South Carolina.It is my pleasure to be able to locally assist real estate investors secure their short-term purchase/Rehab/Fix 'n Flip and even new construction loans.