Fix it properly, then rent it out to a highly qualified applicant. 

The most qualified applicant in my opinion is a family of three, whose credit and background checks are clear. 

Investment Info:Single-family residence buy & hold investment.

Investment Info:Single-family residence buy & hold investment.

If it will qualify for conventional, you would be just below the 75% LTV threshold.

I intend to relocate to the Rapid City, SD region in April/May for work, and I plan to acquire a primary residence that could eventually be transformed into an investment property.

IRA funds can be used to make investments only; they can't be used to buy a residence.

This would make it into two, two bedroom units with the intent of making them long term rentals.I'm guilty of having a lot of projects going at once so my focus right now is bringing the cottage to a point to refinance out of the private money and either make it our primary residence for a year for the financing perks or to go straight into a short term rental.With the four bedroom house I'm trying to decide if it's worth splitting into two units or if I should keep it a four bedroom rental.The cottage I'm also tempted to do mid term with to lower the turnover and maintenance but open to suggestions.The third property I'll probably just let the current renters pay the mortgage for the time being if I'm able to acquire it anytime soon.

If applicants can't qualify on their own, I don't rent to them.

Good evening,Active duty military here and resident of south eastern NC (Wilmington area).