They are that you have the ability to purchase their property so what that means is proof of funds, whether bank letter or liquid funds, and experience to handle the transaction in a seamless manner without hiccups.

This would free up my FHA ability and I will have the need to relocate in 12-24 months so I would likely do FHA first purchase (after selling) and then conventional.

*Lebanon - This town was known as a bad town for a while but has seen tremendous growth in the last few years.

Towns near Major Airports, Schools, low crime rate, decent population growth and decent amenities in the area.  

The reason that is terrible thinking is it assumes you do not have the ability to make any money with the cash you kept in your pocket.  

I’d take a 5% growth of $1 million over a 10% growth rate of $100,000.

I've started 4 months ago and haven't gotten a deal yet but, the people I met, the things I've learned, and the growth are irreplaceable.

Since you had to ask your question, you are not ready or qualified to invest other people's money and before you do you need to have a conscience and be aware that you are putting other people's money at a high risk if you don't have what it takes to find the right property, have the ability to manage tenants, have the ability to do the math, keep the property in good condition, have a good handle on how to do clean recordkeeping, how do accurate bookkeeping, send your investors reports, how the taxes work for every party, how to deal with contractors and maintenance, how to evict tenants and get new tenants quickly and the list is much longer.

These are your “ready, aim, fire” folks.At the other end of the spectrum, you have people who on a whim will buy or borrow some gear, trust in their ability to figure it all out on the fly, and take a chairlift to the top.

Annual Cash Flow form the property / what you paid in cash for the property = cash return on your investmentOverall return will include things like principal paydown and growth in equity :)