Buying an out of state rental property from a realtor, wholesaler or off facebook or zillow etc as opposed to from an operation or turnkey provider who has an active, substancial, and effective boots on the ground team or teams to support you after you close on the sale. 

@Brian Shurtleff, of course, is way off base - not even close.

Case closed... thanks for the help everyone.

I am using a dscr loan. what I cant understand, is why are my closing costs so high. above is the numbers on the refi.

While I can contribute some capital and sweat equity, I’ll need a partner to bring in additional funds to close the deal.Here’s where I could really use your advice:1.

We like the short-term rental idea because we could stay at the property ourselves when we want - summer break, spring/winter breaks, etc.Our budget will be right around $1M or less ideally, and we would like a short distance to the ocean.How likely is it that we could find a property as described above and have it cover or come close to covering the mortgage? 

Sellers are offering incentives like paid closing costs, and with homes sitting longer on the market, buyers have more room to negotiate!

One of my close friends in the busines had a similar setup.. her husband was also a contractor, and together they tackled a fixer-upper that ended up netting them a solid profit on their first deal.When you’re hunting for the right property, I’d lean on a realtor who really understands investor math... someone who’ll help you break down potential cash flow or resale value.

Hi Shayan, You will be able to close on properties quickly and have access to rehab funds immediately if you are able to qualify for a HELOC that can cover both the purchase and rehab.You should be careful though as if you cannot sell the property or you run out of rehab funding, you may end up being over leveraged.

If you can’t “always close” on every home you put under contract, aim for 90-95%.