I bought a small pool of 4 loans for around $25k total, they were low balanced loans with in different situations (BK, FC and performing).

If you join a brokerage with low or no monthly fees, your annual expenses could be as low as a few thousand dollars.

When it starts to rain in monsoon season, put your galoshes on. ;-)

Fully furnished 6 month (maybe as low as it was3-4 months) is much closer to a LTR.  

I wish I could say that I'm venturing into real estate investing for some benevolent purpose like providing low-income housing for the needy... but financial gain is certainly my angle lol.

Much like other markets in the Midwest, investors go to our market because of the low barrier to entry.

With only requiring 5% down the money needed is very low compared to the Cash On Cash return you could make on a small Multi Family. 

That is a really low rate which is good so second or heloc would be better unless you didnt have the cash to get a second mortgage and the rate difference * cost of second home dont exceed the rate difference to your primary * principle left.I would lean fixed heloc then you could always refinance if rates go down.

Not looking to rent it out in the off-season currently.

Quote from @Josh Dickson: Hello all,I've been flirting with real estate for a long time but due to my low earning potential, thus far I have never felt comfortable taking on the risk.