There's a few different ways to focus on a lower rate such as with house hacking and making the investment your primary residence, requesting a significant closing credit from the sellers for standard rate buy-downs (which I've had great success with recently), or utilizing lenders who offer short term rate lowering solutions such as 2-1 rate buy downs (again, ideally paid for by the sellers).

Investment Info:Single-family residence fix & flip investment.

There are also other ways to use money from an IRA without tax penalties such as for a primary residence or medical expense. just know what you're getting into and the best ways to avoid the tax.

Depending on the salaries of the new jobs they may also price out the local residents on new home sales which would further drive up the price.

Quote from @Irina Badal: I heard for anonymity purpose it’s advisable to set up a personal residence trust.

Investment Info:Single-family residence fix & flip investment.

@Placeholder PlaceholderOne word of caution I would advise: If a community or local government is enacting restrictions and also regularly enforcing them, then its often a reflection of the local community sentiment which increases the chance of a neighborhood or nearby resident calling you in if they think you may be running an STR.

Ideal if you're short on cash upfront, but be prepared for higher monthly payments.Conventional Loan: @Chris Seveney and I agree conventional is your better option.  

I did that with my first two primary residences.

I don't mean to throw shade at my fellow Illinois residents, but I'm quite bearish on this state for the long-term.