After years of focusing on my career and building financial stability, I’m ready to dive into real estate investing and start creating passive income and long-term wealth.My short-term goal is to purchase my first duplex or single family rental. 

Excess depreciation could be suspended as a passive loss unless you qualify as a Real Estate Professional (REPS) or materially participate in a Short-Term Rental (STR)—which would allow you to use the additional depreciation to offset W-2 or business income.

You might also consider highlighting the benefits of a quieter, more relaxed stay during the week in your listing description.Since you're already optimizing your pricing with Priceless, a short-term promotional discount might just be the extra push needed to boost weekday bookings.

Underestimate the costs and come up short needing the funds?

I’m actually also an investor in long term property rentals in Ohio so I’ve seen success in short term and long term rentals.

I would assume that if its for a short term loan, it would likely be better terms with the HELOC but I dont know much about the subject honestly. 

I have a mix of long term rentals and short term rentals and I'm looking for something to help organize all of my expenses and more.

Wholesaling is a great low cost way to make a lot of short-term cash, but it does not build long-term wealth.

That is why flipping, short term rentals, and other strategies aren't as appealing in the short term. 

This could be an opportunity to add value by offering to help with clearing or relocating those items as part of any potential agreement.Why This Could Be a Good Move for YouYou see long-term potential in the property, especially with the large lot and development possibilities (even if those are years down the line).As the current tenants, you have the advantage of a direct relationship with the landlord and familiarity with the property, reducing competition and risk.This could be a chance to lock in a property that you might otherwise lose if it hit the open market, especially in today’s competitive environment.Challenges to ConsiderIf the landlord is emotionally tied to the property or reliant on rental income, they may be reluctant to sell.Financing could be tricky, especially with today’s interest rates and the gap between the current rent and what a conventional loan might cost.The development potential you’re interested in is likely a long-term play, which means the property could be financially tight in the short term, especially if you’re only breaking even or slightly negative on cash flow.Structuring a Potential DealTo make this feasible, you’ll likely need to explore creative financing options that align with both your financial capacity and the landlord’s goals.Seller Financing: Propose a deal where the landlord acts as the lender, allowing you to make monthly payments directly to them.