Not your debts or your income or your DTI or your reserves or the extra guidelines and underwriting and overlays that that a residential mortgage company can have Do you require a personal guarantee? 

If you convert it to a rental and sell later, you may owe capital gains tax + depreciation recapture, unless using a 1031 exchange to defer taxes by reinvesting in multifamily.Leveraging $100K in equity via HELOC or cash-out refinance can help fund the next deal, but ensure rental cash flow covers debt, expenses, and reserves.

I can find the broke and impatient all I want at convenience stores and sports bars.Something to be said about paying for a service. 

Your biggest issue is that $50k may not let you get a nice house and have any reserves.

In some cases, it may not be possible to purchase and store materials, but if it is, that is one way to protect your budget and avoid a costly mistake.The last thing I would offer for you to think about is having a pivot plan. 

I used a HELOC to cover the down payment, appraisal gap, and furniture, allowing me to enter the STR market without depleting cash reserves.

Plus, I like to ensure that the owner has reserves for his property.

@Hector Lewis - The decision ultimately depends on your current cash reserves relative to your financial needs, as well as your willingness to reinvest for potential appreciation.

Quote from @Brendan Jones: For the homes, and or properties that you will use as a primary or a rental property one big thing I look for is infrastructure in the area, extrinsic value (I.e. hospitals in the area, schools, and job market), and the last thing is creature comforts for people (I.e. is a store to get groceries 1 hour away or 2 minutes away).

can you store dumpsters on site?