Agreed - plus two additional thoughts:1) I always recommend having your CPA also review the drafted operating agreement for the tax issues. 

In addition to the different tracks @Chris Seveney descrubed, there is also good information on creative financing and seller financing (including what to avoid).

If you just take the 13,835 financed at 6% you are adding 83 dollars a month. so a double whammy.Now, lets consider if rates drop to 5.5% in 24 months (not a prediction just a what if) and you could have refinanced at a much lower costs then the above scenario in what you paid in pre-paid and additional interest. on the other hand, if rates for your same scenario after your 5 year payback period is 9, then you will have an asset with a much lower then current market rent.  

Additionally, I would suggest you run some financial calculations such as cash on cash return as well as any appreciation from the asset if/when you sell.

In addition to STR'ing the main house, he is building 2 more units (ADUs) on the back side of the property.

These are professionals with additional training and a stricter code of ethics.

Additionally, Mr.

Additionally, the contract with the wholesaler is set to expire on Monday the 27th.

Any additional will be refunded a few weeks after the auction. 

However, ensure you have a solid repayment plan to avoid over-leveraging your home.Focus on long-term rentals that generate steady cash flow and offer tax advantages, such as depreciation and deductible expenses.