As soon as you have owned it long enough to satisfy your intent to use as investment (1-2 years is considered pretty safe. 

Would love to compare notes with anyone. 

Educate yourself on what a good property manager looks like, then shop around and compare prices.

Comparing that time frame to the current price stabilization, buyers have the luxury of discernment in identifying areas for a potential path of progress.

Purchase price: $250,000 Cash invested: $115,000 Rental must be refurbed after last tenant, pool /hottub/ yard issueLeak from water heater created major damage, but didn't compare to tenant issuesMaking decision on selling/renting again to mitigate the costs of repair What made you interested in investing in this type of deal?

Others do percent plus added charges, so make sure you are looking at everything so that you are comparing apples to apples.

How is the Poconos compared to these markets?

The rate may appear higher, but when you consider how much money you pay interest on, and how quickly you can pay down a line of credit safely compared to a loan, it's a no brainer.Otherwise, with refinancing, don't worry about who you go with.

Reason I was thinking of a 2 bedroom condo, is to pay cash for it and have less of a headache compared to dealing with an old building.

Once they are satisfied with the property they will look at the loan guarantor. 3.