There are two plays Appreciation or Cash Flow ; its hard to get both in todays market in the same deal at least thats what I am seeing in my surrounding areas.

For those of us committed to the buy and hold approach. Frothy markets make it tempting to sell! I would love to indulge with a milk mustache and take my profits to the bank and wait for the next recession to hit but ...

You do not want to be holding luxury units with debt going into the next recession, not if you want to be playing this game for a long, long time. 

.), but if that's the only wonky thing at play, it can be overcome without going hard money.EDIT: Note that mortgage guidelines on cash out refinances are riddled with "Except for cash out refinances in Texas, where..." so rope in a lawyer in Texas to tell you about if whatever follows "..."

Always demand to see a copy of their contract.Remember, these are middlemen trying to play RE agent without a license.

I usually end up going back to a notepad, photos and a bad memory.But while playing with it I found some good uses for real estate and non RE actions.

You need to find a deal that the numbers are conservative, value add play, and three exit strategies for the worse case scenarios.

Jay, Well my first 'response' somehow 'disappeared' when I hit post... so I'm playing it safer, the second attempt! 

Looking for the 20-70 unit complexes with a value play.

With a shortage of inventory and rents out pacing incomes, there is nice B neighborhood set up playing out in Loveland.