I'd make sure it would do well with long term in case you get sick of mid term and want to convert it to long term.    

It’s pretty common for people to buy homes even if they have other debt, like student loans, as long as their debt-to-income ratio is in a good spot.

@Cole Starin What type of take out financing did you line up to payoff the private money and get into long term perm debt? 

Depending on how long it takes you to save up the amount, you might want to also allow for inflation on that amount for your continued savings.[2]   Read Rich Dad poor dad.[3]   Think about getting a second job - possibly a temporary job - save a 100% of the money.Just my 2 cents.

From my understanding, as long as you intend on doing a STR when you close, there are no rules against changing your strategy after closing, especially if you find that something else is more profitable.So in our case, the lender determined an STR would bring in ~$3500/month (with all of their conservative factors), but now that we operate it as a huge 3300 sqft Co-Living property, it actually brings in $7000/month.

Long term, short-term, etc?

How long did the renovation take, and how much do you estimate you would have made if you had chosen the wholesale route instead?

But with the right team, it can be a great market for cash flow and long-term appreciation.If you’re interested in learning more, I’m happy to share some resources.

My recommendation is before chasing all these real estate deals is to go earn and save some money so when a good deal comes a long you can take action and move on it. 

for long term renters?