These are not new construction top of the market type of data points but seem to be a good hedge for us from just buying pure cash flow properties. 

It sounds like it would still cash flow at $65k-$70K with repairs.

Usually, when you get under the 1.25 DCR, the lender would do cash flow sweeps to cover the loan. 

Couple scenarios to illustrate:Scenario 1: Let's say both deals create $10k in equity and produce +$400/mo in cash flow. 

Cash flow and a great deal on a newer home.

So, in this case, you get the best of all worlds - enjoying the most favorable cash flow situation that you can muster (the less you're dipping into the HELOC the better) - but if you pick the right opportunity you will also get the chance to actively manage some value add project(s) to a property that you're already living in.If you're married to your current house and living situation, fine. 

Do the properties you just purchased make you any cash flow?

Seems like I should do this sooner rather than later due to growing concern of market being topsy.I know this is not a home run and I am not cash flowing as much as I would like but want to use this investment to continue to learn and grow and eventually hit double/triple/home run(!)

Now I am hooked on real estate flips, and cash flowing rentals. 

AL tends to be more of a buy and hold or rather cash flow.