Inherently the steps are the same as if you were purchasing with financing save potentially less closing costs and ability to close sooner (if needed).The terms of your offer (ie -contingencies, closing cost splits etc) will determine what is different. 

Look for any clauses about rental caps, short-term rentals, or owner-occupancy requirements.

My wife and I have done all the terms (short, mid, long term rentals) and have done some live in flips.

@Tiffani HollisFor a long-term rental, I’d avoid used dishwashers entirely—repair costs and reliability issues often outweigh the savings.

Now my investor network as expanded and the best split I have experienced was 65/35 in my favor but I invested 40% of the cash and created over a million in imputed equity before any investor dollar was raised allowing me to originate a bank loan at 87% LTC.

Divide the long-term vision into manageable steps.

Purchase price: $189,000 Cash invested: $40,000 Mid-term rental property in a college town.

Might be a diamond on the rough if you can fix it up and then long-term rent.

california has had statewide rent control on mf units for ~5 years.My experience with rent control is that in the near term rents increase more than without rent control.

Looking for guidance on the best way to proceed going forward in terms of asset protection and how to structure all of this real estate…