Much better as a short term acquisition strategy for flips IMO but always a high-risk strategy that should not be practiced by anyone who doesn't have the liquid capital to pay off the loan if needed.

Are you needing a long term or bridge loan?

Although whichever option you go with make sure you're also thinking about the long-term property value and what makes the most sense vs trying different angles now that negatively impact future resale/property values down the line. 

Personally If you like your current residence and hope to stay there long term I would forgo major improvements on my primary and use all investment savings to make you more money and cash flow. 

Im self employed, roughly make $130k gross anually, 1099 NEC , no debt at all, 740 credit score.  Want to get a loan for $250k in AZ

I am a long term hold investor so that would likely be my play.Good luck Sean!

I'm considering purchasing a condo or a small SFH in the Oceanside/Carlsbad area as an investment property and renting it out on a short term rental site like AirBNB. 

We only have 6 doors.  5 are long term leases and 1 is a furnished medium term rental. 

My ultimate goal would be to buy fixer-uppers to turn into long-term rentals.

I’d rate this as a 3 out of 10 in terms of the best time to sell—it’s not the worst, but it’s not ideal either.Hope this helps!