Some of the projects were with a local partner as well and then the managing chores were split between us.The lending perspective was stiff in the beginning, as I didn't have any experience at all, also no credit score, and that project was only by myself, so the leverage was low, but I could work on a low-price property to start.Fast forward 5 years, I have built a credit score with 2 credit cards under my ITIN of more than 650, and done 4 properties as experience.

They run your credit report to start so I did not love that.  

We very rarely give compensation or credits to our tenants.

However, I do have a low credit score.

The loan can be called, but in the 45 years I have been doing this I can only recall a handful of cases and it usually was Credit Unions or private money lenders.  

You may also want to look at a cash out refinance to eliminate one or more Heloc or a few credit cards to lower your DTI and outgoing monthly debts.A heloc is a risk since its an open end mortgage like a credit card which carries a higher risk versus a 30 year mortgage. 

If tenants are moving out right after closing, do double check the leases clearly show the security deposit they paid the seller and you collect that amount at closing from the seller (credit to you) so you have those funds to then return to the tenants when they vacant under your ownership. 

Zoning varies, so always check the local regulations for your specific needs.Financing: While cash purchases are common, financing options are available through local banks and credit unions.

My 2 cents,MikeIt's a poorly decorated, poorly photographed and underperforming STR in a location I love.

Then another thing I see coming down the pike is the credit card debt.