This will give you some idea of what nurses/travel med professionals are being paid but bear in mind that they must have a permanent residence in order to qualify for the out of town per diems so they're usually supporting more than one residence on their pay.

@Drew Sygit They will be permanently filling 2 of the rooms and be paying for them just like any other renter would.

@David Garcia- thanks   1) if you plan to lie in one of the units and minimize the down payment - use a FHA loan  as  down payment can be as little as  3.5% of the  price  2) if  not planning to live in one of the units - use a conventional loan and  your down payment will be  consierably  higher  ( the amount  will vary based on the type of property you buy   3)  downside to using a FHA loan - you have to pay  upfront fha mtg ins  premium of 1.75%  ,,,the monthly mtg insurance is  permanent and high ..benefit to  FHA  is low down pmt ,  tend to be better priced  and also more forgiving on credit  4) let me know if yuou would like a FLA based loan person referal and  good luck

Financial Situation:- Single professional ($200k / annual salary)- Remote job (can work anywhere / establish permanent address anywhere)- ~$100k savings (between checking, index funds, and small crytpo portfolio)- Grew up in Southern California (I don't intend to invest in CA, but it is the market I am most familiar with so I am really looking for advice on how to confidently branch out to other more affordable markets with better ROI)- Dad is a real estate developer based out of Southwest Colorado (considered stepping into this market, but not familiar with it's ROI compared to other states commonly mentioned here)Goals:- Develop passive income streams to match/exceed current salary (I'm trying to escape 9-5 life ASAP)- I plan to utilize an FHA loan to minimize my down payment on my first property (ideally looking for a 4+ unit building where I would rent the smallest unit for myself and maximize the rent from the larger units).

In terms of BRRRR, yes, most people end up doing a second transaction which is the refinance to get into permanent debt and allow for cash flow.

But in either case, if you aren't a US citizen (or a permanent resident alien) then you are not allowed access to conventional (Fannie Mae or Freddie Mac) types of loans.  

Rented it out for a year while I worked on getting a visa and moved to the US permanently in 1987.

I'm just starting out and have been using my time to really educate myself. of course, I've been reading books, watching videos, and have taken up permanent residence here on BP. 

@Randall AlanThe water damage is a negotiation point as it can be permanently fixed.

Mortgages are fixed Rates but have higher costsWhat this means is that a Line of Credit is NOT designed to be a permanent financing solution.