using this form of financing is a great way to acquire/fix a property but if you are looking to hold long term you would want to find long term financing. 

He only pays $325/month.For people interested in the numbers:Purchase Price: $250,000Rents when fully occupied are $5,500/month (most units rent for $175/week) My monthly expenses are roughly $2000/month (working on lowering this buy buying the Water softener isnt of rent, switching the internet/cable company, and adding insulation in roof to lower my utility bills)The best way to get started is to just get started, I dont have all the answers but it seemed like a good deal and a great learning experience! 

Hi there,I'm trying to determine the best way to live in and eventually acquire a property as an inheritance while maximizing cost-effectiveness.

Your experience is valuable, and starting with rentals and BRRRR is a smart move.You’re already on the right track by using tools like Redfin and Zillow.

Its really not that complicated for the buyer there is no voodoo to this process of acquiring a property.. 

Is acquiring a new primary residence and renting your current home feasible?

They have acquired 4000 single family properties to operate as STRs in the past year alone, many in ski areas, and all high end.

My partner and I found that cashflow is the strategy that we are currently looking to acquire and Honolulu, HI has a very high occupancy rate.

We would like to create a partnership where we are 50/50 partners and he brings the cash and I bring the experience, knowledge, and contacts ect.

Once we acquire the last 2 properties we will shift from acquisition to debt paydown.Paul I have to underline what you are saying, because this message needs to be heard.