I don’t have any debt besides my mortgage fortunately or unfortunately however you look at it, and I’m not opposed to using my extra funds to buy down my mortgage but I’m afraid it won’t lower my DTI quite enough.

It could be a long road to recovery—meaning there is plenty of time and there will be plenty of opportunities.  

My wife and I approached him to discuss buying it from him since it is simply sitting.

Investment Info:Other buy & hold investment in Westport.

Hello everyone,I'm currently in the process of buying my primary residence, and I could use some advice.

Normally, it's offered to the other partners first and they can either both buy it to equalize the partnership or maybe one can buy it to take percentage ownership.I think you could handle this through a real estate attorney easily.

A STR is both a business and a real estate investment.Having little oversight on a newly formed business would make me anxious also.As others have suggested, you should consider going to the area for the initial items(Purchase, renovation, etc).Once you buy 1-2 properties, you can look to unload these items to someone else.Best of luck

Dallas-Fort Worth is a smart choice, man the growth there is off the charts, and there’s plenty of room for first-timers with the drive to go all-in.I remember helping a buddy of mine who was in a similar boat to you, he was switching from a totally different career and diving into real estate.

Once you get more experience you will find plenty of other ways to find financing.

Plenty of job growth and population growth too.