I have a line of credit with my bank for this specifically I buy for cash they refi me as soon as a new appraisal is in.. no waiting period.. of course these are short term value add loans not long term buy hold loans. but I suspect they would do the same if I wanted to own rentals.What I have Steve and have had for 15 years.. is I have a TRUE unsecured LOC  that I use to buy the sherrif or trustee sales for cash.. so NONE of my own money... then when I get the trustee's deed and a quick appraisal the bank moves them over to my holding and rehab line.. again no money out of pocket..

The market is highly inflated here (up to 7x Wichita prices), so i decided i would buy in Wichita for cash flow.Luckily i found a deal pretty quick, and I'd have to say it's exactly what I was looking for.

I suspect your not going to make much profit on this deal when you get everything calculated out . 30k can get eaten up pretty quick with water damage

They're not even the best examples, just something I found quickly, that's rent ready, and EASY to manage out of state.

By working with a trusted advisor who knows their market, you will be able to quickly identify the pockets in each city that will produce a predictable income. 

Appreciate your quick responses!

Get what you can realize the goal is walk away quickly even with a small loss.

In today's economy it's better to either own apartment complexes (which don't require any experience) , Fix and Flips, or Quick Flips.I do believe that real estate property ownership is a game of quantities and how many offers you make will effect your success. 

Lot more lengthy to type out it happens pretty fluid/quickly.

(No affiliation other than as a customer).