For context, before I learned about his 6 unit I was planning to purchase a 2-3 unit long term rental in Q1 2025 as my first of many deals with a 5 year goal of financial freedom so I can coach my daughter's high school cross country and track teams.

(Auctions and foreclosures can also provide great leads.)With $20K, hard money loans are a practical option, as they emphasize a property’s ARV over your financial history.

If you are in low to mid six figures say $250k a year -   you would need around $2.5  - $3M in cash to make the similar income consistently and without significant risk.Thank you, Chris, for your thoughtful insights—it’s an excellent point to consider the financial and tax implications of leveraging equity.

Your contractors, staff, and the financial markets will create challenges. 

Even if I were to rent it out on Airbnb, the cash-on-cash return isn't very attractive.Specifically, I’m concerned about:High mortgage payments and the financial strain it could cause if the property doesn't generate sufficient cash flow.Cash-on-cash return is low, even with high-revenue short-term rentals.My Questions:Risk Mitigation:Any strategies I can use to mitigate the risks associated with owning a high-value property with a large mortgage?

Looking to discuss with lenders on financial options.Please DM methankskaushik Sarkar

I would think in most situations the original owner is in financial trouble, probably delinquent on their mortgage and facing foreclosure.

The financial analysis side of CRE really excites me.

If you do have to move because of a job, you would be safest (in my opinion, i am not giving legal advice or financial advice), i would sell that property to ensure that you did not just purchase with the goal of moving out early and taking advantage of lower rates and lower down payments for purchasing your home as a primary residence. 

For my units, I usually look for someone with annual income 40x the monthly rent so I know they are financially secure.