I did some extensive work within Sec 8 and the HUD Lease Option program, at the national level, attended in connection with NAHRO, the National Association of Housing and Redevelopment Officials.

As a busy mother and devoted wife, you seem to have a lot on your plate in addition to your work as a nurse practitioner and small company owner.If you want to buy your first short-term rental (STR) property, you should set realistic financial goals, specify your investment criteria, and do extensive market research.

For more extensive rehab's like if you're adding walls and stuff like that, it's easiest just to have a contractor or 2 give you a quote. 

Analyze market circumstances, project remodeling costs, weigh risks and rewards, and do extensive due investigation on possible investment properties.

They are buying flips, ADU bonus program, extensive value adds (near development efforts) mostly purchased off market. 

The home is totally damaged from fire, where it would need extensive repairs, likely a rebuild.

@Carter McGillTo begin investing in real estate, you must educate yourself, decide on your investment strategy, evaluate your financial status, study the area market, connect with other local investors, find investment opportunities, secure financing preapproval, carry out extensive due diligence, submit an offer, and move forward.Learn about real estate investment by reading books, listening to podcasts, using the internet, and connecting with knowledgeable investors.

If the rehab isn't that extensive meaning you can live in the triplex you can also try financing as conventional if you qualify as you would only need 5% down.

[emphasis mine][snip stuff about tax extension dates]Any borrower breaching such covenants will receive a three percent (3%) increase on every commercial loan you have with the bank for each covenent (personal financial statement/rent rolls and personal/business tax returns).

Remain disciplined and patient, taking your time to choose the correct offers, carrying out extensive research, and refraining from hurriedly making investments out of desperation.