Taylor just called to congratulate me on my first purchase and walk me through the next steps.I will update this post as the process plays out and my first rental property journey begins. 

What happens with the economy over the next 6 months plays into our decision as well.

If we did everything on the inspection reports, then the property would be worth more so we refuse to play that game.

This is not a cash flow play, and projecting a %3.1 return makes it a challenge to operate.Good LuckGino

I'm in between renting it out or doing a live in flip, but I'd say I'd like to do both by doing a less intense fix n flip, then hanging onto the property once I move in a year or two.

Section 8 can be a very smart play, but it's not great for first-time investors who are not planning (and have the resources) to continue the play to understand and perfect the obligations and to ensure the best renters.

Pros Of Long-Term Rentals:Stability and Predictability, Lower Turnover CostCons Of Long-Term Rentals:Reduced FlexibilityPros Of Short Term Rentals:Higher Potential Income, FlexibilityCons Of Short Term Rentals:More Intensive Management

I am figuring out what I want to build next that will have the best equity play but still crush as a STR.

I'm curious to hear how it played out.

It's almost always worth owning a house in a very good area, very rare it's not worth it.Making it a STR is just a hospitality play, the underlying value is the asset.