Not to mention you need to have some liquidity left over after the deal closes in order to qualify for a loan. 

Since the LTV on the hard money loan is high , I would personally purchase it using a bank statement loan at 85% LTV (15 percent down) and, as you mentioned, just use your cash for the rehab.

Someone else mentioned making her an occupant not a tenant.

You also mentioned you started pretty young, I am 18 and just purchased my first college rental, any tips? 

Book recommendation #1: Hands Off Investor by @Brian Burke https://store.biggerpockets.com/products/the-hands-off-inves...Book recommendation #2: Lend to Live https://store.biggerpockets.com/products/lend-to-livePodcast Recommendation: PassivePockets podcast is focused on passive investing in syndications - https://passivepockets.com/podcast/Passive investing summit: PassivePockets Summit May 2-3rd in Columbus https://get.biggerpockets.com/passivepocketsevent/I make these recommendations specifically since you mentioned passive real estate investing, and syndications or hard money lending are really the two most passive ways to invest in real estate. 

Watched this one and kept waiting for the point you mentioned.  

If you ever want to have a discussion to explore your options or ask any questions about the concerns you mentioned, I would be happy to help! 

One key he found was mixing a welcoming atmosphere with firm guidelines.. it typically falls under standard tenant landlord laws for eviction.. so you’ll want to double-check local regulations.You mentioned Furnished Finders and Padslipt.com.. from what I’ve heard, those can be great if you’re targeting traveling professionals or short term visitors.

As I mentioned above, we're both W2 employee. 

Hi @Abdul HafeezAs Ryan mentions it will vary depending on the deal.