He had the money from a house sale.

If you look at Zillow's Consumer Housing Report, most tenants stay 3-5 years in a property. 

That house actually looks good to me for a rental of any kind because it's very accessible.

Cash out refinance on my primary house, conventional mortgage 25% down How did you add value to the deal?

Housing inventory in Austin rose to 6.2 months, which is up by 2.7 months from May last year.

I bought a house with cash from pulling a heloc on my home, off market, unappraised (deal was a no brainer in a great part of town.) 

Additionally, you may qualify for the owner occupant exemption if you live in a unit within a 4-plex (or smaller), where you would technically be exempt from the fair housing act, but this exemption may not extend to your individual state or municipality. 

I currently have 6 multi family houses (20 doors) also I work 48 hours a week at my w2 job and if I want to continue to grow I will need clear SOP’s if I intend to bring someone on to help.

However, I don't have enough money for the land, and getting financing for land is much harder than for a house.I have an inside connection to the owner, who is open to selling a 1-bedroom wood frame house on the lot next to the land for $60,000.

So we took the plunge on some cheap Detroit houses and it's been really good to us.