@Jonathan Klemm, I did have one client who got hit with a Vacate Notice on the existing finished basement of their 1st floor Duplex-Down unit because it was less than 7'.

You're likely looking at a hard money lender or private lender, but they do exist and some will finance not only the initial purchase but the rehab as well.

That is you can build at least 5 units on the property at near the value of the existing home.

Travel insurance exists for a reason.This is me speaking from experience as a guest and not a STR owner.

His accounting is already messed up because he hasn't paid you the rent he collected.I'd also call around and interview other PM and ask if they take over from existing PM. 

This type of situation is perfect for single parents, persons looking to supplement an existing income, or retired persons who want to stay active and involved.

I'm going to make the best of my CA properties and existing Indy properties and not buy anymore.

Notably, the leased properties are located outside the United States, and we manage them remotely.We have our downpayment saved and approximately $450,000 in combined equity from our existing properties.

What can’t you find within 15 mins of PF or Gatlinburg, a lot to build on or an existing property? 

I have found many answers on many existing threads, to help guide me along my journey.Actual Question: Would you consider buying a foreclosure as your first investment property, as a relative beginner?