Other team members can fill your gaps of experience, lack of credit, etc.Be ok taking a smaller percentage of "something" rather than chasing all of nothing.

Hello Joshua, we invest in West Texas area, all short-term rentals (4 1/2 years experience).

Ya have to learn to mitigate multiple hurdles, in addition to making intelligent and educated moves. 

So if I can do it anyone can I had really zero experience .

It could give you peace of mind as you focus on your family and move to your new home, without the additional stress of managing a second property from afar.Best of luck with your decision! 

My experience is that when people can afford to keep their expensive property, (sans a house), they rebuild.

I wanted to help them out and minimize their loss and saw an opportunity to get a property slightly below market because of my commission savings, immediate mortgage and maintenance relief, in addition to keeping a lower short term interest rate How did you find this deal and how did you negotiate it?

In addition, they "found" the AC needed to be serviced for an additional $400.

Instead of losing 55k they will probably only end up losing $25,000 - $30,000Long term its not a great cash flow property but with some renovations and addition of a parking slab I think long term appreciation is the big goal here.

Maintenance/cap ex, insurance, if a rental PM, bookkeeping, misc.The fact you have a loan means 1) leverage 2) equity pay down.In addition, there are tax benefits.So I will do some rough underwriting as an OO non-rental at 95% LTV (because FHA has some undesired consequences that make the 1.5% difference in LTV worth avoiding the FHA).equity paydown: 20% (using OP interest rate at 95% LTV and not counting closing costs).