Depending on your path you'll need a Realtor, contractor, lender, accountant, mentor, etc....

I just think it all depends on what your expectations are.

Here's the quick and dirty: Purchase: $250k (max)Reno: $175-200k (pending deeper inspection of roof and foundation)ARV: $475-480k, per our 203k consultant who is also an appraiserMonthly Rent: $3,950 - $4,000PITI: approx 3,000-3,100Other Expenses: vacancy 5%, Repair/Maintenance/Capex: 6.5k/year (all major repairs done during reno, budgeted low for capex)Cash Flow: approx $150-200/month, depending on interest rates/PITI payment Cash on Cash/ROI: 7% the first year (due to reno) and 9% there-after.

It also depends on the age of the property, a newly built home will be way less to insure than a 1950's property (if they will even insure it.)

It really depends on your objectives long term.

Depends on your trash fees and particular area. 

Another thing that helps maximize the strategy is the amount of cash inflows a person has each month or the amount of inflows because on a revolving line the interest is calculated daily or on an average daily balance like what  depending on the LOC (line of credit).on the All in One or AIO loan from CMG the interest is calculated daily and swept or added to your balance at 12AM each day so all your paychecks, rental checks from rentals, or stock dividends, distributions from your business, or etc can be used to lower your balance by 12AM each day and lower your total interest costs.Most HELOC's or lines of credit calculate interest on the average daily balance which is like all balances within the last 30 days divided by 30 which is not as efficient as the AIO's daily sweep but close.The third method of interest calculation is the 30 year fixed which amortizes or calc's interest every 30 days or month so extra principal paid into this loan after the 1st of the month doesnt lower the incremental interest on the reduced balance till next month.

It really depends on the multi family you cash out to buy .

Sometimes you can get info online and sometimes you have to order and pay for lien search depending on municipality or county.

@Sam Josh as usual, it depends on where and what type of property you have.