If you want the "best" rate, be prepared to pay for it.

If you are accredited, the best thing to do would be to invest 50k into a syndication and soak up all the knowledge of how it works from an experienced operator before you make the decision whether it's your plan.

Which would allow you to escalate that snowball payoff without having to use part of it to pay the tax.

I plan on starting out next year with a small plug and play solution to have minimum risk.

I always am amazed when someone selling a $600,000 house brings me a listing agreement where they agreed to pay a stranger $30,000 to list their house for sale and they didn't even read the agreement much less spend the $250 to have a lawyer tell them that yes, if they sell it to their cousin during the listing period they still have to pay the $30k.

But really you’re just creating a second job for yourself and one that doesn’t pay very well if it even is cash flow positive at all 😆I used to buy houses for STR but now that I’ve got several STRs up and running that I bought many years ago, I stopped buying STR once mortgage rates went up and housing prices went up.

Are you planning to rent the entire unit at the 2nd year mark? 

Since we will be investing remotely, we plan to work with a property management company to oversee day-to-day operations.Does this sound like a solid strategy for a first investment property?

Bulldozed the house and plan to build a new house on lot in the future Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Their plan is to raise rents (on the poor remaining souls, improve infrastructure and exert some sweat equity.