Purchasing the STR first could delay your primary residence purchase.Scenario 2: If you purchase the primary residence first, the primary residence payment may or may not be included in your DTI calculation for the STR purchase. 

Delayed Financing - If you have a lender that will do 80% on a delayed financing transaction....I would be very cautious going forward with that lender. 

Plus if you paid cash for the property you could probably consider it delayed financing with many DSCR lenders. 

Hey Tim - sorry for the delayed response!

If your goal is to scale while minimizing your initial out-of-pocket expenses, consider searching for off-market value-add opportunities via investor lift, or local wholesalers.

My go-to HM lender has approved to finance a purchase that needs some minimal work, like a month or less worth of work. 

Delaying recording could be risky here, as another party could record a claim and take priority over your interest.Notice Jurisdiction: In these areas, the priority is given to the last bona fide purchaser who buys the property without notice of any prior unrecorded interests.

What's your take on buying in a good neighborhood out of state within our budget and ensuring that we break even or generate minimal cash flow?

Flipping can be great, but house hacking is a good way to get started with minimal down if your market allows for it.

Again, everything must be at fair market value, and all documentation should be meticulous to withstand IRS scrutiny.It sounds like you’re on the right track, but it may be beneficial to consult with a CPA or tax attorney familiar with real estate and LLC structures to fine-tune your plan and ensure you're maximizing benefits while minimizing risks.Good luck with your investments!