Hi Kris,It sounds like you’ve got a great property under contract with a solid entry price, and the only challenge is the interest rate of 7.125%.

If you are organized enough to forsee hang ups and talk with your GC about potential challenges on a regular basis, two brains are better than one.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

The warm months are now approaching but, for the future, I'd suggest coming in aggressively low during winter months and looking for an 18 month lease to start - that way you'll renew in a better pricing period and see some income while you wait rather than spending three months with none.

Tahoe isn't ideal right now as the local community is vehemently anti-Airbnb and the permitting system is challenging to navigate.

My wife and I have overhauled our personal budget to reflect the 'pay yourself first' approach (allocate in order: income comes in -> invest -> donate -> fixed expenses -> variable expenses -> fun $$).We are looking to see what experienced people generally recommend for a holding tank for that 'invest' allocation while we target our first real estate deal.What financial vehicles have you guys used that works well for this?

I have seen schemes like that and they are demeaning.This course teaches you how to approach real estate investors, offer them financing for their ventures and then find that financing. 

I think any seller without much knowledge of being the lender would appreciate the added benefits and hassle free approach using a third party.

Crime and drugs still an issue, but getting quality tenants has not been a challenge... so far so good.

Focusing on smaller multifamily properties needing light rehab is a smart approach for learning the ropes.