I think this will happen more and more, even for smaller nuclear families that were successful in tech: the parents will want to will the RE assets to the children and perhaps encourage them to keep them either for personal use or as legacy rentals.

This info probably won't apply to 98% of the people using this forum, but I would thing that there are some other STR people in a refinery town that do the same thing as me (STRs for refinery contractors).El Dorado KS refinery is mobilizingBurlington KS (nuclear plant) is starting a shutdown in March.

@Ryan Cox: But being someone new to the game, wouldn't investing in others' projects (especially those with lots of experience and credibility) put something nice on your portfolio (or resume)? 

You may want to look for private money first, from friends, family, co-workers until you do some deals to show some resume of successful deals.

I'm currently a Mechanical Engineer living in Poulsbo, WA, and heavily involved in the nuclear power aspects of the Navy. 

However ALL lenders want to see some sort of history or resume in REI. if you start with 5 conventional loans and are doing well with them, you'll still likely look better to your 6th property with a new portfolio lender than if you were only on your 2nd deal with that port lender even if its repeat biz

Yes, a 750 FICO is a great start but for any real sizable LOC he'll need a solif PFS (personal financial statement), resume, and proven track record.It is possible to get a 1MM LOC for flipping at a very good rate but that would require a significant net worth and track record in flipping.Your local credit union will probably be in the 50k range with the assumptions you've provided.    

We work with house flippers all the time to "pre-approve" them BEFORE they make an offer so they are not putting their cash at risk.You may have 800 FICO and a great resume but a lender may decline the PROPERTY if the numbers don't work.  

Also having a degree will just put your resume closer to the top compared to someone without a degree.

For instance, funding A with your reserve checking account and funding B using your business line of credit.Essentially, I am getting that a good rule of thumb is the one should generally not work on more than a deal at the same time, regardless what the aggressiveness and risk profile the investor has, precisely because the underwriter can pull the rug unexpectedly at the last minute, and we don't want that.In my example, A has to close first before resuming talks with B (assuming the market hasn't taken over B yet).