It’s a great market for long-term appreciation and growth, but it will be harder to achieve cash flow compared with how the Midland home is structured.

If you own the home in NV simply do a cash out refinance and take out a little cash to use as the down payment.

Depending on the area you find a property might determine how long you live there.

If I buy my home in Michigan first that cash flows, I can save that money and buy the Florida property as soon as I have enough saved.

You're being a bit short sighted in a long-term game. $200/month net cash flow today is an 8% CoC return in the scenario you described.

@Jaquon MillerDepends on your long term goals but based on what you wrote, I would strongly consider refinancing

Save cash and look for a deal the second you turn 18.

Purchase price: $1,280,000 Cash invested: $400,000 we were presented with the deal by a flipper needing to exit the deal. it was only rentable for $4500/mo as is, so we created a second unit. now it brings in $7200/mo What made you interested in investing in this type of deal?

Pay cash and then after 6-9 months do cash out refinance. - in this case, I will have more time to shop around for better loan terms/rates etc. 

Don't get into a long drawn out - knock down & move the walls type of project as a newbie.