It would be great if your rental could also work financially as a long-term rental if the STR market changes.  

Private funding from a relative may provide flexible terms and reduced financial risk, but formal agreements are necessary, and interest paid is deductible for you but taxable for them.Traditional investment property loans offer stability and tax benefits like deductible interest and property taxes but require larger down payments.

The only other question I would suggest is that you do engage a property management company to review your quad and review your monthly financials.

Thank you for the financial breakdown!

We were in a financial position where we could keep our existing home, upgrade, and purchase another home.

Though many investors bend the rules and possibly don't get caught, you have the financial situation to do it correctly.

But you also need to check on them for updates so you know how your property is doing financially.

Here’s how to build trust with private lenders:Share success stories or past deals to demonstrate your track record.

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

Can you believe how much time and information Tax, 1031 exchange, accounting, and financial experts give away here?