Buy the property with seller finance & finish it up.Tahoe is a great short rental area

When I first got started I didn't officially join any coaching programs, but I did buy the materials at mobile home university.

You can offer to buy the upstairs residents an area rug, but I wouldn't force it on them.   

Instead of stressing over timing it perfectly, focus on making sure the deal still works even if rates shift.Since you’re buying in Norfolk, check if lenders there offer any investor-friendly incentives.

@Luke Hamlin you can buy a second home with 10% down with a Conventional loan.

If you can take that and buy a 2-4 unit property and live in one and rent the others, with the aprox $110-120k you are putting down you should be able to be in a good position and make a much better rate on your investment.

Imagine making millions of dollars over the course of your career and then having to pay 30-50% every year to uncle sam instead of compounding that cash over time.This is exactly what real estate professionals have learned to mitigate.To reduce their taxable income, they just buy a building every year, do a cost seg, and use depreciation to reduce their tax liability dramatically.Their personal wealth snowball grows much larger and much faster than their W2 counterparts who give most of their money back to the government each year.Following this strategy as a real estate professional is one of best ways to end up with a much larger net worth at the end of your career.

You can also use some low-down payment mortgage products to continue buying in your back yard while house hacking and renting to others. 

@Christopher HeidrichRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Work WITH Other Investors, Not Against ThemI started partnering with flippers to buy their properties rather than competing against them for deals.