I'm kind of just starting out, shooting to buy a minimum of 3 rental properties this year, I purchased one rental last year plus own my primary residence two years ago.  

I'd be the primary on the mortgage and own the rentals. 

Hello everyone,I currently own one rental, a primary residence and looking to buy a third property (preferably a duplex).

According to The Freddie Mac Primary Mortgage Market Survey® (PMMS®) which began in 1971, October of 1981 rates were 18.45% and November/December of 2012 rates were 3.35%. 

@Daniel Gonzalez's approach also isn't crazy.You can mix them:If you find a deal on redfin/mls/whatever, you're using that agent for doing normal agent things and they earned their check.If you find it on your own, or if another agent brings you that deal and sells it to you, that means they closed the sale and earned that check.Your primary go-to person needs to be exactly one agent at a time to be fair.

Lebanon would have to be a great deal, then again, I would probably be willing to make a maximum commute of an hour one way for a great deal (most likely only on a hack in that situation, I wouldn't want my primary residence that far away for much more than a year or two).

For $78 per primary guest with 80% occupancy rate, $50 per secondary guest with 60% occupancy rate, and a 3% AirBnB fee, the monthly income will look something like this:$78/night x 4 primary guests x 30 days x .8 occupancy rate + $50/night x 4 secondary guests x 30 days x .6 occupancy rate =$11,088 - .03(11,088) AirBnB Fee =  $10,755/monthHis mortgage is around $4,000, so the profit he is hoping to make month to month is $6,755, not taking into account expenses and taxes. 

Maybe two: one as a primary residence (and rent out 2nd bedroom) and another as a rental.

Reason for the cash out is I recently just moved into a new primary residence and I want to pull out the funds from my rental to make some property improvements and upgrades. 

A couple of weeks later, I found out that the auction was actually for a second mortgage and that the primary lien holder was now foreclosing against the guy I lost to.