I'm a local youth pastor in MN and I'm looking into getting started in real estate so that I can provide extra income for my growing family.

@Ming HuangRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Some of them have converted to flips, but I do not do flips because it is a job (stop flipping, stop earning).  

Quote from @Zachary Kessler: Hello all I’m currently hacking my house that has an ADU dwelling that generates income, I bought this property intending to leave and rent the house that I currently reside in (2 bed 1 bath) I currently have a very good interest rate locked in here from 2022 that I don’t want to lose or have my mortgage called due from leaving here, I live here for very cheap with the income from the ADU.

Quote from @Ryan Pham: Is there a reliable way for to est income of a furnish / short term / airbnb  incomevs long time income ( I know this can be est looking at comparable posting in same area )I have a 3 bed / 1 bath small townhome ( hoa approved ) I like to try to fully furnish and do airbnb / fully furnish rentalThis unit is 1 mile from Banner Desert Medical Center ( traveling nurse ?

It can still qualify if it's a fixer-upper, as long as the rental income from the property can cover the debt service.

Quote from @Olga Daisel: @Randall AlanI agree with Randall on getting more details, $7K gross a unit btw is a great gross income.

Rental gives $500 monthly income from $2,000 rent.

REPS does not relate to STR's.For short-term rentals (STRs) with an average rental period of seven days or less, you don’t need REP status to offset losses against other income.

I'm looking at monthly cost to seller vs. anticipated rental income, purchase price relevant to the ARV of the area and interest rate, balloon, etc.