Condos are generally horrible cash flow investments.

So I am not one to brag, but I always see people posting about how to invest with no money. I have been flipping in Austin and San Antonio for a while, and what I'm here to tell you is maybe you can or maybe you can't...

The property is in good condition, cash-flowing..fully occupied.

It is a loan and a loan wouldn't be considered income. 5) While I am not assuming you don't know this, one of the most common misconceptions I regularly run into, is the idea that Cash Flow= Income.

Would like to grow a healthy cash-flow portfolio in the next 5 years to supplement (or completely replace) retirement.

It does not cash flow.

While crunching the numbers, our current property would provide little if any cash flow if we did end up renting it out even if the property appreciated in value due to high HOA fees.  

Property $40,0000 + $3,000 Rehab ($850 Closing) - Rent conservative $700/mo - optimistic $750/mo   (its a 3/1 I have a 2/1 close that I rent for $700 right now)Commercial loan from portfolio lender that will finance upto 85% of broker price option of $50,000 (terms 25yr at 4.35%) as long as DSCR is over 1.25 its over so no issue.Would you ratherA. put 20% down and finance $32,000 ($11,850 in) with $244/mo cashflow on $700  $700/mo- $175 mort- $75 tax- $56 prop man (8%) (I pay 6% because every property over 4 with them drops from 8% to 6%)- $45 ins- $70 repair (10%)- $35 vac (5%) - property management is local and averages 2-3%= $244 ($174 if you figure 10% capex, but some people only do 5% repair then, which would be $209 cash flow)$2,928/$11,850 = 24% cash on cashorB. put 0% down finance $40,000 ($3,850 in) with $200/mo cashflow on $700$700/mo- $219 mortgage- $75 tax- $56 property management (8%) (I pay 6% because every property over 4 with them drops from 8% to 6%) - $45 ins- $70 repair (10%)- $35 vac (5%) - property management is local and averages 2-3% usually 20-30 people per open house I rented my last house in 4 days= $200 ($130 if you figure 10% capex, but some people only do 5% repair then, which would be $165 cash flow)$2,400/$3,850 = 68% cash on cashI live 25 minutes away,  I like the cashflow higher but I have a good W2 job that allows me to invest $2,000 a month of my own income into real estate plus cashflow from properties is all re-invested. 

Be wary to spend money before you are ready to handle the lead flow and intake and more importantly, all of the bad leads that come with lead capture.

He is finding  deals that cash flow and or have a big enough spread to be flipped.