YOu can use conventional financing or non VA financing options.The 25% equity requirement typically comes up when you're vacating a primary residence to buy another primary using FHA purchase.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

There's often more turnover than a typical long-term rental, usually they'll stay at a property for 1-3 years.

For $150,000, this could be $3,000 to $7,500.Investing in a Rental Property: Costs and ExpensesDown Payment and Closing Costs:Down Payment: Assuming you buy a $300,000 rental property, you need a 20% down payment ($60,000).Closing Costs: Typically 2% to 5% of the purchase price.

Typically spreads on loans collateralized by CDs are around 200 bps. 

I typically work with out-of-state investors to help them capture equity and build portfolios by managing start-to-finish value-add projects.

Depends on the contract language, but under typical language the seller is obligated to the sale if all contract terms have been met, and the jilted buyer can usually get a legal block prohibiting the sale to another party.

Quote from @Austin Lukes: Quote from @John Mason: From another post from this forumClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

While I'm not a legal expert, in Illinois, landlords typically have the right to serve a 5-day notice for unpaid rent.I had a friend who faced a similar situation with a tenant who was a traveling professional.

Regs can run the gamut:  STR licenses are unlimited and available immediately with no restrictions, STRs can only be rented so many nights/ stays a year, STRs can only be in designated areas, the number of STRs are capped and there is a waitlist for a license.As others have mentioned, typically an unregulated STR will have more revenue than a LTR, but it will require more consistent work and effort.