We are set to close on a 10 acre building lot January 31st for 125,000.

Consider duplexes or triplexes that can help offset your mortgage and provide steady income while you figure things out.

I would also look at your skill sets and go from there.

Most properties are remotely managed by owners/PMs and what was suggested would be an impossible and unrealistic standard to set - much less enforce. 

I’ve built strong relationships with agents, contractors, and other investors in the area, and one of my contacts informed me that the owner was considering selling but hadn’t listed the property yet.

If it's on the higher side you may want to consider it for mid-term or long term rental, but if most stays are below 30 it can be viable for short-term! 

A few things to consider when shopping for an STR on the Oregon Coast:- Geographic Restrictions: These are small, remote towns.

However, I’m open to exploring opportunities in other cities or markets if the numbers make sense and align with my investment goals.If you know of any deals or markets worth considering or maybe even a deal lines up, I would love to know of it!

Those rules are set by Fannie/Freddie NOT your lender, or any other lender in fact.

Check out property prices, rental demand, and cash flow in the areas you're considering.