Hey @Spencer Cuello, like my buds said, stay away from that.

Sounds like a good opportunity but I am tied up with my own stuff...Under 100kNeeds: Roof, some plumbing and electric, kitchen cabinets and counters and a vanity He put in a good amount and has a project underway but just wants out. 

Otherwise, seems like a great passive investment with long-term upside! 

You will most likely need to be a qualified buyer with a lending institution and/or put down a downpayment. 

While they may face intense competition, if you’re able to hold onto your investment for at least five years, you’ll likely be in a strong position.

Yes, House Hacking seems like the most ideal option when considering my first investment (open to other forms of ownership, such as live-in flips as well).

I’ve been diving into the idea of investing in midterm rentals in Portsmouth, VA, and surrounding areas like New Port at Victory, Cavalier Manor, and Waterview.

Just an FYI to everyone like @Tom Dieringer said, this is a base contract for anyone who wants somewhere to start.

Even if the rental has a decent cash flow with additional flood insurance, we're still not sure we want to take on that risk as we are out-of-state investors (planning to move back to KY in the future, but not now) and we don't like that it will potentially bring down the perceived value when we try to sell it in the future.The seller has never lived there and has not provided any information on if it has flooded before or not. 

I’m eager to learn from those with experience and willing to put in the work to gain hands-on knowledge.I’d love to connect with others in the community—whether you’re seasoned investors or fellow beginners like me.Looking forward to any advice or insights you can share.Best regards,