However, I could use some advice on the best route to take (buy an investment property or a primary residence first).Some background on my current situation:1.

Tools like Baselane simplifies bookkeeping and tax preparation by categorizing transactions and storing records.Keep personal and business accounts separate to maintain LLC liability protection.Please don't use the same LLC for flips and rentals.

Transparency about lease terms and the tenant’s situation is crucial.

@Nick Belsky gave you great advice.In this situation, best to keep it as simple as possible, and I often give two offers; first, perhaps an all cash (way below market) and let the owner know that it is what it is--a below-market offer.#2 would be the seller holds the financing--I wouldn't go to a 30-year amortization, especially with an 80-year-old seller. 

We've been happily shifting away from catering to traveling medical professionals in favor of larger groups of either families in a insurance relocation situation or a work crews coming through. 

Different persons, different situations, different benefits. 

To reinforce what I said about making sure the credit tenant is proven and sustainable all you have to do is look back on the past 15 years or so:2009-2012: frozen yogurt 2012-2014: “new and improved burger” spots2014-2015: spin class2015-2016: megaformer and Pilates2016-2017: poke bowl2021-2022: "new and improved cookie" spots2021-2023: indoor golf2024: pickleball(5) If you are in a situation where seeking an F&B operator, be aware at this time these operators are seeking very high T&I allowances which may not be a worthwhile investment for you to make.

I to would highly recommend to anyone in your situation to house hack in a good growing market.  

Knowing this I had my real estate agent contact the seller's agent, let them know the situation and then made a back-up offer asking for only 15 days to close on a cash deal.

They are like a co living situation, specifically ideal for college students.