Make it a discussion to see what they want/need from the sale. 

This requires the right renovation components and speedy make-ready after a tenant departs.

I would be happy to help you explore first-time buyer programs and financing options to make your purchase smoother and set you up for your future rental plans.

The planning staff should be able to walk you through any options for zoning changes or variances if there's a way to make short-term rentals work in your case.

We have helped a ton of clients with the process here in Chicago..just be sure to find a team (Agent, Lender, HUD Consultant, and General Contractor) that has done these renovation loans in the past!

This in turn can open up what homes you can buy since the numbers will make more sense when putting 3-5% down instead of 20%. 

What do you see as the biggest mistake new investors make.

Make sure you are clear on your objective so they are not showing you deals that are not worth looking at. 

@Chinku Chinku the rich get rich by making their money work for them.They borrow at one rate, to invest in something that returns a higher rate - they profit on the difference.Only you can evaluate your risk tolerence though.

Let's say you split the cost of furniture over a 12 month period amortization rate.Furniture costs: $583Rent $1500Utilities $150Total Cost = $2233After vacancy costs, your monthly rental revenue is actually only $2240 Formula for vacancy (2800*12)*.80You're not making money.