In the worst case, the property is offloaded as quickly as possible, pay off LOC and take whatever profit there is and go to the next investment.

I’ve seen deals like this before where a seller needed quick cash but was still emotionally tied to the place.

You’ll want to get really familiar with local zoning laws, short-term rental rules, and landlord-tenant laws as they vary by town if you plan on going the STR route.Focus on Cash Flow Early On: You might be tempted to go for something that appreciates quickly, but in the early stages, it’s important to find properties that bring in cash flow.

If they are professional, they can explain this quickly and easily.

This dealflow is then supplemented with deals from the broker channel.The broker channel will get leads in the door quickly, but they are usually of questionable quality and loyalty.

Personally, if your market tends toward the former condition (better/normal appreciation) I think it's a fairly safe deal looking at the long term, assuming infrastructure around you continues to support the idea of renting it.

I could add this4) Maximize agency financing to improve overall returns safely

Doesn’t mean you can’t find a good deal, but from our quick search while we were there in May 2022, none of the places came close to meeting our criteria

If you want low, safe returns that are truly passive, invest in the stock market.  

The home would be about 6 weeks for my team customarily but the outside is large so 2 extra weeks to be safe.