@Victor Quan Cool to see you on here.

And you will have RE brokers who kind of middle man you buy off the open market and they help with the rehab etc.. your taking the position of a rehabber in those instances.Lastly and this is a very important point.. properties in the mid west and deep south are not as liquid as our west coast properties.. 

Had a similar discussion here.I've already heard that there has been some immediate gut reaction of some Chinese investors pulling funds from projects because of lack of liquidity.  

I am really excited about pursuing increased wealth through real estate investing however I want to make sure I understand what I am getting into first.In the high stress, high turnover, cut throat medical sales career I have chosen to earn my living in so far, I sleep very well at night knowing that I have a good amount of liquid cash in the bank as backup. 

Primarily cooling climates move more air and need to be changed monthly.  

(LOL)Sellers and listing agents still feel their homes are worth top dollar in this hot (though cooling) market — even if it has significant cosmetic, systems or structural issues.

Often it will say something like "Sellers sole recourse is keeping the earnest money deposit as liquidated damages." 

I had no idea that he would be that liquid, but it all started with the 10k ask.  

It is about 2-3 times more efficient and cost would be similar ($200-300 for 400-500 square feet heat/cool) http://www.ebay.com/itm/Amana-APN12HJ-Heat-Cool-Po...Biggest hurdle is drilling a hole in the wall and getting tubing to drain condensate.You could also look into a ductless minisplit.  

@Bryan HancockTraditionally, in my businesses, I've tried to maintain 20% of the long-term debt, or 4-6 months payroll, as liquid capital - cash & further credit facilities (LoC).