Not all homes are great long term rentals! 

Then you can immediately put a loan on. the free and clear property and pull that cash out to get close to what you need for the ADU. 

Most mortgage companies will not call loan due if payments are current but you do run that risk and need to be prepared to payoff or refi at a moments notice.

Make sure it explicitly explains the process for termination if you are unhappy with their services, especially if they violate the terms of your agreement.3.

I’m a first-timer, so bear with me if I sound a little clueless – I’m still figuring it all out.Here’s the scoop: I’m looking to purchase a long-term rental property within the $300-350k budget range.

I mean, don't get me wrong, we have to comp the property...so if you are looking to REHAB the property and make it something different, then you need a rehab loan first and then refinance after type of thing. 

Just to name a few: Borrower's Experience FICO Loan Amount Loan Type being sought: Perm (30 yr ams), Bridge (12-36mo I/O), Rehab (12-36mo I/O), Ground Up (12-60mo I/O) Property Type (1-4 unit, 5+ MF, Warehouse/industrial, Hospitality etc)If you have a specific deal in mind, then you can have a lender (or broker) look at it and give you a better idea.

BP has done such a great job of promoting SFR investing to the masses, that those masses have pushed up real estate prices to where it's now DIFFICULT to cashflow right away.Keep going, but understand you won't get rich in real estate overnight - it's a long-term wealth building strategy.For the short-term, recommend joining a few in-person investor meetings if possible, otherwise online ones.

Over time, I’d like to expand into short-term rentals, buy-and-hold properties, and flips.I’d love to connect and learn from this amazing community.

Properties in or near these cultural zones can be prime for short-term rentals or Airbnb.3.