Substantial owner use during peak periods. 

If targeting new construction, keep searching for an extended period of time until you find a builder that has a good deal, avoid builders that clearly will be difficult to work with, it was easy to spot.

Having come into the real estate business during a challenging period in our own lives, we understood hardship firsthand.

HELOCs usually have a 10 year draw period interest only before amortizing out. 

Taylor just called to congratulate me on my first purchase and walk me through the next steps.I will update this post as the process plays out and my first rental property journey begins. 

The rents are collected weekly instead of monthly, so there are more rental periods each year, but I assume expenses may be higher as well.Does anyone have experience with SRO real estate?

With interest rates as they are, and knowing they are probably going to start dropping over the next few quarters, is it best to wait on any kind of finance for a year'ish or are the rates not going to come down enough over that period to make a huge difference?

Do not expect a seller to update a house for you .

If you are handy and can do rehab/updates yourself, you might consider something that you could add value to.

(i.e. if the tenant moves out, the property could be converted to a long term residential rental or STR with enough margin for you to hang on to the property until selling makes sense)Keep us updated on what you decide!