My long-term goal is to build a portfolio of multifamily rentals while also working as an agent helping investors scale their portfolios.Your experience sounds incredible!

How that will play out for long term values is unknown - however human nature has shown proximity to water is desirable. 

However, my mother has fully paid for the property, making her the rightful owner in practical terms.

I was actually considering doing a shorter mortgage term to gain equity on the property faster.

I would find a loan officer that does both conventional and FHA renovation loans to compare which has better rates and terms for your situation.

reach out to me if you'd like details. 

House Hacking, STRs, Mid-Terms, and BRRRR are all solid strategies to explore.

FOCUS ON SELLERS, NOT BUYERSWe have a term in the real estate industry "Listers Last" Simply put this means that real estate agents should focus the majority of their attention marketing to sellers, not buyers.

Especially in a commercial lease, I'd make sure you feel very comfortable with the terms or have an attorney review them... not just because you will own the building, but since you'll be living right above them.

Quote from @Steve Englehart: I currently have two long term rentals and am looking into buying into the short term rental arena.