I googled it and found this:If you rent it to tenants, you would treat it as a rental and report it on a Form Schedule E.

Key items to rehab on the second home to bring the property value up for the refi, determining which lenders/servicing companies will be favorable, Identifying good properties to invest in altogether.

I follow Dodd Frank, I use an RMLO, I have a title company close the sale and offer title insurance.

About 5 years ago one of the sellers we bought a multi family from told us about a company that has a lot of landlords like us and we coshare insurance coverage.

Instead of shelling out $60K for a $250K deal, maybe some of you can help me figure out (or give referrals) to title companies, etc, or give overall advice how to save me money from this enormous financial endeavor (closing the deal).Thanks!

That said, here is how I would proceed...For some background, I used to run an STR management company in SATX and we peaked at about 35 properties under management. 

If you are able to actively use the funds I would say start a real estate marketing company with it. 

Limited Housing InventoryThe number of homes for sale in Buffalo is significantly below pre-pandemic levels, with a reported 46.1% decrease compared to 2018–2019 averages.

*Prepare for high insurance costs by running a few properties by your STR insurance company before making a purchase.

Do you recommend making relationship with property management companies?