Even if it takes longer to pay off, having a steady, reliable tenant might actually be less stressful than managing an STR.FYI - consider starting with a regular rental but structuring it as a 6-12 month lease.

Everything has been cash so far but I have contacted several local banks and all of them have said about 1-2%+ above regular mortgage rates, 3-5y ARM with 15-25y term, and 20-30% down.

The vast majority of "regular" or traditional (Conv/Govt) mortgages are originated by specialty lenders and brokers and are sold in the secondary market to provide yield on bank balance sheets (think Chase or BoA) or to be securitized into MBS.

They sound like regular conversations where the RE professional/investor is genuinely interested in discovering the seller's pain points to help find a solution.All the best!

I will also be tracking expenses related to repairs, maintenance, travel to and from NV, hotel stays, meals, gas, and other regular business costs.In the long term, I aim to purchase additional properties under the business name, but I understand I need to establish at least two years of income and credit history before doing so.The issue I’m encountering is that my accountant has not provided any guidance on how to structure this scenario.

I enjoy the guaranteed rent and higher rents than most regular properties with a "normal" tenant.

But for $1.6m there are 3 or 4 deals right now on the market that will buy you 30 to 60 units and not require anything more then regular maintenance and upkeep.

Never pay for work that hasn’t been done.3.Verify Work Regularly: Have an objective third party inspect the quality of the work weekly and provide updates.

They're spending tax-payer money, so they'll cut a check without batting an eye.Document condition before and after with photos, inspect regularly, and you should be fine.

Currently I have a regular primary homeowner insurance policy on the house as it was our primary home for the past year.