Once the rehab is complete, the loan just converts into a regular mortgage, so no need to refinance and no second set of closing costs.As mentioned above, you haven't posted a ton of other details, so there may be a lot of variables, but I did a deal as a buyer in this fashion in the past.

I did use Michelle as PM eventually and she found a tenant with 2-3 days and immediate move in.

Over time, Section 8 rents did not keep up with market rents for my properties, so I slowly converted them to market tenants.Pros of Section 8:You are likely to have families as tenants, so it is more common to have long-term tenants.These are lifelong renters, so you don't get calls for stupid stuff that really should be tenant's responsibility.Most are used to slum lords, so simply being responsive builds huge amounts of goodwill to you.Cons:the biggest one, for me, was the annual inspections.  

Eventually, Class A property values increased to the point that even increasing rents didn't allow them to cashflow upon purchase.So, the flood of new investors switched to buying Class B properties.

Alternatively, you can convert your IRA into a "Self-Directed " IRA and buy investment real estate inside your SD IRA.

@Isaac Ballew I graduated back in the stone age with a finance degree and found my way eventually in Real Estate after some corporate jobs. 

The first was a development project converting a motel into an apartment in Tucson.

The first was a development project converting a motel into an apartment in Tucson.

Most areas have long term rentals that can in fact be converted to short term rentals. 

The first was a development project converting a motel into an apartment in Tucson.