Frank, For a rookie investor with low capital looking to build a rental portfolio, the best strategy is house hacking: buy a small multi-family home with a low down payment (FHA or conventional loan), live in one unit, and rent the others to cover your mortgage.

Purchase price: $15,000 Cash invested: $25,000 Sub to deal - paid the seller and wholesaler $15,000 + $7500 closing costs to assume $84,000 mortgage with a monthly PITI of $575.

What’s your occupancy rate during peak and off-peak seasons?

It was all really quick, and the time to complete everything happened a lot faster than I expected (which was a good thing).I was worried at first that I had to use all the partners that Rent to Retirement had, but it was really easy for me to shop around for different lenders with different terms and rates, insurance providers, and property management company.

.⚠️ Financing Challenges: Hard money loans carry high interest rates that nibble into the bottom line.Unrealistic timelines: If you think you're going to be in and out in 60 days, you're sadly mistaken-most flips take longer than expected.Real Talk: Is Fix and Flip Still Worth It?

Tenants are all market rate.  5 year leases.  3 are NNN and 2 are NN. 

We cap the rate for utilities and actually added about 10% above our normal average this past year due to rising utility costs in our area for gas and propane.  

Lucy: your story shows that setting up a loan is more than just interest rate and other terms.

Given the fact that the Baby-Boomer generation is retiring and interest rates are high (making a buyer's market) I should be in a good place.

Quote from @Louis Hamilton: The property is worth around 800,000 and has no mortgage on it.