Also, you don’t be have to be RE professional to get deduction for your rental activity.

I think best/easiest option would to be have a tenant or property manager read them each month for me?

As others have mentioned, your challenge is going to be having the required equity in the home to refinance into a conventional loan.

Personally, my focus is mobile home parks and a small percentage of RV parks that will behave similar to a mobile home park, specifically for long term cash flow that will weather a recession.If you are focused on parks, you can acquire them yourself or partner with others who are experts in that space.

@Chelsea PriceIf your goal is to find enjoyment in this venture and meet people then your own backyard would be probably ideal.Attractive areas in DC that are popular for tourists and business travelers would be have good for demand year round.And then hopefully, if it makes money, you can reinvest that cashflow into traveling to your beach town and pay for your travel there.The biggest mistake I see most STR operators do is they buy in far away places that they like to travel to with the idea that they will use it for themselves and then rent it out.I think the better option is buying an investment that pays for your travel to whether you want to go that you can have the optionality of going wherever you want when you get the travel itch.

A good option for you could be having someone cosign on the loan (like a parent) to help you qualify.

You can also tell him that you can get another person in to deal with those as you need him to finish the original job.And no your friend should not be having panic attacks.

Renting the property will make it easier to get the loan approved because the lender won't need to rely on an estimate of how much the rent would be. Having

There is nothing unethical about wholesaling as a real estate strategy, it's when uneducated, misinformed or maliciously intentioned folks start behaving unethically that things go south.

If I found a way to get 3X the return on an investment, wouldn't I be having meetings with giant hedge funds looking for billions in capital to make my fortune?