So if you are looking to hold long term, you must take that into consideration.

@Shawn Questa I agree with you that there could be some opportunity here, but personally, with that little equity in the property, I'd wait for the pre-foreclosure process to start and  perhaps you can do a short sale (though I don't know the details on how that's handled in TX).

Many older homes were built without closets.From appraisal today:"The Code refers to "habitable rooms" not bedroomsThe essence of the 2015 International Residential Code is that the code does not specifically use the term bedroom, but refers to all habit- able areas of a home.

I am interested in buying a long-term turnkey property in a nice area (I live in San Diego so this property would have to be out of state).

I mean myself and any bank would need more details, but if you utilize that large sum as a downpayment and have a small mortgage, wouldn't you easily qualify for the debt to income?

The first 4 are real magazines but do not feature his name or any of the important key terms in any of their articles.

I’m hoping that once I do have enough saved I can buy the second property and continue house hacking.Something like this: https://www.realtor.com/realestateandhomes-detail/2574-W-Fai...? 

.- The variety of financing products available as individual tenant in common loans remains limited, and the terms are generally less favorable than either apartment building loans or condominium loans.

Quote from @Andrew Lawlor: I've been actively investing in short-term rental properties for the past three years, managing one live property and another that will go live in two months.

Hey @Eric Andersen, so there are a lot of regs in the DFW area.https://www.fortworthtexas.gov/short-term-rentalsRentals are not allowed in residential districts: A-#, AR, B, R1, R2, CR, C, D, UR.Dallas recently banned STRs in single family homes but there was an injunction that blocked it.