Quote from @Kyle Carter: What about if I already have a rental, not with the home buyers program.

The real estate market has shifted dramatically in recent years rising interest rates, evolving buyer and seller expectations, and fluctuating property values are keeping all of us on our toes.

You’re saying a primary home buyer won’t be able to buy it.

@Andrew Steffens the pool of buyers that have six figures of cash (you really need about $150k in cash to buy a $500k STR), have some subject matter expertise, AND want to self manage is even smaller. 

As a resident (who travels a lot) I would say the Midwest does not have the attractions like palm trees & beaches (the great lakes are cold) or amazing mountain ranges, which often come with some disadvantages like high cost of living or hut/humid weather, stroms etc. 

I've been reading more about subject to and here's what I've learned:-Good for sellers who are off market-Have low to no equity-Have a mortgage with a low interest rate (less than 5%)-Be absentee or out of state (vacant property, or have a tenant)The buyer would then take over the mortgage payments, and have the seller sign the deed over to the buyer.

Talk to residents, potential buyers and renters to see what their thoughts are regarding home values in the areas. 

@Jonathan Klemm that is great advice for first time buyers!

While the property is in a smaller town, it’s relatively close to a larger city, which I think adds a lot of potential for attracting both short-term guests and long-term tenants.The motel has fewer than 16 rooms, and the nightly rates are extremely competitive for the area.

It also will help you a lot to learn how to properly calculate ARV as your buyers will want to work with those wholesalers more than one who is just throwing properties at them.