Thank you.Good morning, Joel - What you are describing is a very common practice on the private lending side of the financing industry.

The tech industry and manufacturing growth in Reno also provides for a different client for short term rentals, something to look into.

In the "industry", you would use an "Acquisition/Rehab" loan that allows you to use part of the loan to apply to the purchase of the property and you'll have some loan funds left over to use for the rehab.

In hindsight, they gave loans to people who were terrible tenants, who weren't going to change just because they now owned a house.In response to the Great Recession, higher lending criteria was forced on the industry by the government.

If you’re looking to continue to invest in your backyard, it helps to network with as many locals in the industry as you can.

However, rates have since moved upward.A 30-year fixed rate mortgage is once again sitting around 7% interest:For broader context, here’s a chart for 30-year fixed mortgage rates over the past 5 years:The real estate industry hoped 2024 would see a recovery in which mortgage rates fell and home sales climbed.

Wishing you luck as you learn and grow in this industry!

At the national level, it's the best of the worst in that industry - a lot left to be desired in the customer service department but still better than doing it on your own.

So, I went hunting.Huntsville, Alabama, caught my attention because it’s a highly educated city with growing industries and a stable, diverse economy, as well as a really high quality of life compared to the surrounding areas. 

Does not affect your debt to income for future loans in the mortgage industry (auto loans could look different, but i would think similar so hopefully no worries there).