Investment Info:Single-family residence buy & hold investment in Oceanville.

Probably buy during hurricane season (now) to get the best deal. 

It's also rare you buy these properties with 20-25% and have NOTHING you need to address almost immediately in terms of repairs or capex. 

@Hiyun Park only experienced investors can DIY everything in Class C Midwest areas like Detroit, Cleveland, St Louis, etc.Hopefully the info below will help you:-----------------------------------------------------------------------------------------Recommend 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?

Think of it like buying an existing performing business.

. $220,000 is definitely a lower purchase price amount and really limits you on what you can buy.

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

I am interested in buying the house and renting it out. 

Because later on, if you want to get a business line of credit, apply for grants, or pivot into a different industry (like buying an ice cream truck—hey, life happens), you can use the same LLC without lenders or banks assuming you're only doing risky real estate deals.

It might just make more sense to buy another property and move on.