I would suggest you hire an inspector as well as have a general contractor go out to the property.

What kind of account or vehicle would you suggest to start saving down payment money for my first rental property?

AI tools like HouseCanary and Mashvisor also offer predictive market analysis, assisting investors with better decision-making.

@Travis Gutting Being prepared and confident to make an offer will land you good deals from the MLS. 

Looking for suggestions from people who have been in a similar position, thanks in advance. 

Long-term rentals are a solid choice, but mid-term rentals in medical hubs (like yours) can offer strong cash flow with less turnover. 

Just need to spend a year somewhere I may have no desire to live.Hybrid Plan:Keep researching out-of-state markets and act if a great deal appears.Move back to LA, live in Airbnbs in to get a feel for neighborhoods (open to suggestions), and house hack once I find a deal.Would love to hear from those who’ve house-hacked in LA or NYC or started with out-of-state rentals—what would you do in my shoes?

Does any lenders offer these DSCR loan terms?

Hi Duane, my firm offers a Premier-approval product and can fund multiple deals at a time. 

This way on the cash out you can retain as much of the HELOC capital as possible so that you can put those funds back.Here are some numbersproperty value: $100K-ARVrepairs: $20KLender LTV 75%My offer to seller will max out around $50-$55K. with a max offer at $55K you can add the $20K in repairs and be at the lenders LTV threshold thereby getting back the majority of your HELOC money used to purchase and renovate.