If you're certain the type of renter you're going to get are traveling medical professionals, you know they're on short term contracts (typically 13 weeks).

If it does vest, then the 2nd isn't currently $8k and the paperwork could further help your case.Other option is to completely ignore the equity in your residence and look for creative financing on the property you want to purchase. 

Wanting to know some basics as well as funding options. 

Hi Chris, there are several options you could consider, but it would all be based on your risk tolerance. 

Happy to connect and talk about options.

Rich Young, Loughlin, Crest, etc.Commercial brokers typically do not charge fees for tenant/buyer representation but find a way to take their fees out of the deal.

If your cabinets are made out of plywood and nice enough painting is actually a great option. 

Hi Evan,I would recommend annual rent increases that align with cost of living - assuming you are currently at or near market.Residents typically expect a small increase and it's better to do it each year, rather than getting behind and having to do a large increase all at once.

Also, consider this copy & paste advice below:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

They can sometimes be more open to funding niche investments like mobile home parks, especially when you’ve got proven cash flow and a solid plan.Another option could be talking to your uncle about seller financing.