We are NorCal and are not yet in flipping but looking into long term rentals currently.

Another thing, the threads move down the forums rather quickly because it's so busy, so the odds of your post being seen for long by very many people is minimal. 

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.

HELOC= short term useFixed (first or second) = long term use like a down payment.  

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

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. 

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.    

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?

for long term renters?