The appreciation on condos in our area are low.

I moved to the Philly suburbs in 2013 and decided to keep that rental because of its low maintenance and good cash-flow.

Due to the low price and timing, my full strategy is the following:Buy the property (all cash deal)After getting employment, Cash out refi this property to purchase 3-4 more properties.Cash Flow on the three to four new properties will be $350 per unit (total of $1,400-$1,750)Would like to get some feedback.

However, for a buy and hold strategy, the initial investment is pretty high and the cap rate is low. 

I've looked into them in the past as they would work well for me with low money down, i heard before that you had to pay monthly loan insurance(think it was around $100) and got nervous about it cutting into my cash flow to much.

I had to personally guarantee the loan.Generally, commercial loans are based more on the cashflow and quality of the investment than your personal income and credit.

Buy quality

This is probably a cleaner approach, but I worry that a sale this low is going to devalue the neighborhood.

As doomsday scenarios go, this isn’t terrible.Now switch to my mobile home park and consider the same factors.Rent - low rent payers ($200 per lot for 15 lots),Credit – my residents probably have mediocre credit at best,Building – I own nothing here, as the residents own their mobile homes.Site Improvements – I own nothing here, as there really are no site improvements to speak of,Zoning – zoned for the parkReal Estate - an otherwise poorly located piece of ground jammed up against an airport.The seller/owner created the park 15 years ago and claims to have never had a vacancy, so if my doomsday scenario hits and all the trailers are wiped out by a tornado, I’m left with a poorly positioned piece of ground which I suppose I would eventually repopulate with mobile homes.So why consider this at all?

This is very different from my interpretation from listening to the BP Podcast and reading Investing in Real Estate With No (or Low) Money Down.