It just takes some reading on "portfolio allocation" and "full service broker" versus a "discount broker" and having some conversations with them.  

Just wanted to get some feedback on what the "standard" is within real estate investing and how one direction might affect financing versus the other (if at all).

Then refi 6-12 months later to wrap it all up and get your cash back out.You have to weigh the costs of a conventional loan and refi versus a HML and refi and see which one makes more sense.

Given that the repairs were so much more than expected, it really killed the #s for me and the initial outlay of cash versus my rental return didn't make it worthwhile anymore.I am rethinking my approach where i may need to look for houses that are slightly more expensive with little to no repair needed so i can at least start cash flowing.  

You will come out ahead with the credit versus the higher interest paid.Hope that helps!

One issue is that your *new* countertops, floors, appliances, etc. don't get a dollar-for-dollar return versus comps.

You need to look at violent versus non-violent crimes and if trending upward.You can have the best property in a marginal area and have constant problems.It's better if you reverse it and buy in a B area close to you with C- tenants.

I have been a real estate investor since 1992 and I agree, first and foremost I would recommend that you join you local Real Estate Investor Association, I have spoken as a guest speaker at the Warwick REIA and the organizer Rick Cohn is wonderful, he really does a great job of focusing on the educational aspect versus bringing in a ton of people just trying to push their "system" or "product" to the members ("buyer beware").  

My real estate agent said that it is difficult to cash flow in Austin right now (unless you put 40+% cash down) and I should consider an owner-occupied new build.Hence the option below and I'd like to get some sage advice here to see if it makes sense for a first-time investor:- new build (complete in Aug 2017)- fixed price ($223K); 3 BR/2.5 Baths, 1350 sf- part of a new estate area (Phase 1 has ~70 units) = higher property taxes @ 2.55% (versus average ~2.23% in Austin, TX) - current SFR prices in the area for a 3 BR / 2 Bath ~$249K (source: Zillow estimates); this can fall as the new estate builds up (tentatively planned for 70 new builds for Phase 1) - negative cash flow for 1st 7 years; primarily because of higher property taxes (can be offset as I plan to move in)- using revenue and opex growth estimates (2-3%) over 10 years; cap rate = 3.5, Year 1 cash ROI= -5.5%, Year 1 Total ROI= 16%  Well, there it is, not sure if this is worth the trouble of moving into and wanted to hear your thoughts, thanks in advance! 

I can't imagine how to calculate the additional risk involved in owning an out of state property versus having one 2 miles from my house where I know all the dynamics of rent , electricians, plumbers, handymen ect,  and can attend to issues that come up versus being remote.