Everyone's favorite answer in real estate---"it depends".That being said, you have to start somewhere to figure that out.

I agree with @Murali Jesudoss, I had pulled back from investing when things got super crazy in the last year or so, but I believe things are stabilizing and deals will start to become more attractive. 

That's how my partner and I started out.

Short-term rentals of non-owner-occupied properties will also require a special use variance which is obtainable by starting with the completion of an application in the Zoning Department."

If the lease auto-renews to a month-to-month, then you can post a letter on their door (take a pic) or send it by certified mail with a signature required with the new terms starting at the appropriate times based on the lease.

.: Quote from @Chad Hale: I used QB when first starting my property management business.

Would you recomend me buying out my lease, so I can start this process?

As a newbie , I would start shopping for a property manager who can list and manage the rental.

The process from start to finish would take four months and cost ~200k to build, with comps in the area around 355k-lender man said, refinancing would take six months as most lenders wont refinance a property unless its been built for six months, affecting the strategy to get paid out from refinancing quicker and closing out on construction loan-The property would not appraise at comps value, but at the cost it took to build, affecting getting paid out from the refinance.

When does the cash flow start?