Specifically, going over to the new property, do a walk through, and take pictures.  

Do I have to wait a specific amount of time before I use the same type of loan? 

If you get a good vibe, I'd follow up with some more specific questions about your needs and how the two of you can grow together. 

Here is my specific situation:  I have about 20 years of successful investing experience in both flips and buy and hold.

Might want to go straight to the source and just call and inquire about the past years worth of bills on that specific property.

For us it was better to keep the mortgage to help build our credit for future deals, but also because we wanted to buy property and get to a specific cash flow.

Before making any decisions, check out the specifics of that loan product bc it might be exactly what you need to upgrade the entire building nicely, get a low fixed rate long term mortgage, and be able to raise rents bc of how nice it is now, and with a low or very low downpayment.

I'm based out of Hampton Roads, specifically Virginia Beach and I'm looking to start attending some local REIA's and general networking with other investors, marketing professionals, Real Estate attorney, title companies, builders and contractors etc.

@Selina Banda - Are you trying to understand the basics of Airbnb/short term rentals or do you have an understanding of the basics and want to know where/how to buy in your specific city?

I don't have a specific question, but welcome any other's thoughts or experiences around this!