I'm earlyish in exploring a few Mexico business plans with a partner.

Hi Scott,A few things I'm curious about (sort of playing devil's advocate here): 1) Have you explored much closer to Alexandria?

I highly prefer conventional financing if possible, but am exploring other options for properties that require rehab before then refinancing into a conventional mortgage.

Let’s explore some examples here:If you purchased a property with a 15% down conventional loan (85% loan to value) and you wanted to get cash out, you wouldn’t be able to do so since the cash out limit is 75% of the “Loan to Value”.

@Michael Swan - just stumbling upon this thread now as i was exploring detroit shoreway as another area to invest and saw your comments and recall listening to your episode on BP sometime last year :) Congrats on all of your successes, been at it in the CLE market now for the past year and looking to ramp up into apt complexes although i know they get scooped  up pretty quickly out there. curious at the time of your 1st comment, were you at $160k cash flow monthly already?

I will keep exploring and learning about syndications.

I have explored the Vegas market and other out of states markets.

All legalities look fine in Rapid City, something zoned for rental can be used however I want.It seems like a unique deal that will give me some fire insurance on my first foray into the STR world, while also giving me the added flexibility of using the STR.

If the credit is low because of them not paying everyday bills like utility bills, car payments, cell phone bills then we will pass on them because they just don't pay any kind of bill on time or at all which isn't a good sign.If the credit is low only because of a foreclosure/bankruptcy, medical bills, or student loans AND they make well above the minimum income requirement w/ no criminal or eviction history we may explore accepting them with 2 months security. 

I plan to spend 9-12 months doing everything right and really exploring the upper limits of my ability as an athlete.That, and perpetual travel, anyway :-)