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

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.

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.

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.

But with inventory being low and you having a guest house, it might stand out.

And low and behold, I also had to evict her cutting into every bit of profit for the year.

Instead of moving into another single-family home, consider house hacking a duplex or triplex, this allows you to use low down payment loans (FHA, conventional) and offset your mortgage with rental income, accelerating your path to financial freedom.

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

Maybe with a low (70% or less) LTV or an ARM and stellar credit...also depends on what type of loan you're looking for (nonQM or conventional Fannie/Freddie)

Cleveland and Dayton can be great markets for high cash flow and low purchase prices, but you need to be careful when navigating the neighborhoods so you're not buying in a D/F class area where no property managers will manage and where you'll never see any positive cash flow.