Might be a diamond on the rough if you can fix it up and then long-term rent.

You may want to research the term ' Debt Financed Distribution' Which does have a tax implication for the investors receiving a distribution.

Condo or house I am open to either, as long as it can be a reliable rental. 

They need a well-designed workspace, ultra-fast Wi-Fi, and long-stay conveniences like a washer/dryer and a fully equipped kitchen.Why This Matters for Your ROI:When your STR feels tailor-made for a specific type of guest, it stands out in a crowded market—leading to higher occupancy, better reviews, and repeat bookings. 

The property will be strictly for investment purposes, not a primary residence.I’ve been looking into two potential financing options:Hard Money Lenders (HML) – I’m drawn to this option for its speed in closing, but I know the rates can be higher.DSCR Loans – This seems like a great option for long-term rentals, but I’m unsure if it’s the right fit for my auction property since it might need some rehabbing.I’m also considering purchasing through a land trust or an LLC to add a layer of protection and privacy.So, my questions are:What’s the best way to approach financing for auction properties?

After the HELOC, it would drop down to about $450 per month.My goal is long term equity and appreciation, and not cash flow.

I personally own properties in these areas, and they’ve been performing well in terms of cash flow! 

I’m exploring a few options and would love to hear your thoughts on each:Airbnb Rentals: Is short-term rental still a profitable and sustainable option given current regulations?

I met him there that afternoon because these kind of houses don't last long around here.

Can I ask how many properties you have and how long it’s taking you?