If the seller is insisting on a high price with not-so-hot financing terms, though, this may be a riskier project than it's worth.

You mentioned you are struggling financially - answer a few questions for yourself- How long can you reasonably afford the property given the current tenancy issues?  

A couple of things I like to tell my newbies-Owning a short-term rental property can offer significant financial benefits.

As we all know, the standard way BP says to calculate cash flow actually leads investors away form long-term opportunity and leaves a lot of investors on the sidelines because they don't understand IRR and the multi layered dynamics of investing long-term.  

It sounds like you’ve got a solid plan in place with the bank refinance to secure long-term financing.

 @Greg Abel I think it's important to consider the long-term, as changing property management software is difficult.

Real estate has long been the foundation of lasting wealth, proven by historical and modern moguls alike.

Not overpaying and getting great terms 3. multiple bids/ quotes 4. project management. 

In terms of reaching my goals, I’m curious about which real estate strategy might be the best fit for me.

Investors think in numbers, exit strategies, and long-term plays, while homebuyers think in emotion and monthly payments.What are some of the biggest differences you’ve noticed when working with or transitioning into real estate investing?