Looking to purchase my first home and was initially going to go the traditional fixed rate mortgage without buying down points with the assumption rates will go down in the next year or 2 and I will just refinance.

I'm new here and just purchased my first investment property in Ohio. 

I bought the building, land, and business all in one purchase.

Those are numbers that should have been calculated before purchasing the property as a rental. 

@Riley Schaefer is a good example of one of our investors that has bought with us for years and has had a good experience purchasing multiple properties.

Purchase price: $640,000 This is my primary residence.

Example:Mortgage approval up to $600k20% down payment = $120kClosing costs = approx 1.5% $18,000Furniture costs approx $30,000 based on $20 per footv at 1500 sqft homeMoney partner agrees to contribute all necessary cash approx $168,000 to purchase and set up STR. 

Once I have the blue prints I am going to purchase all the finishes and store them in my warehouse.  

I purchased the property with a combination of cash and a HELOC.

Remember, success in real estate often hinges on purchasing properties at favorable rates.