The multi-family scene here is pretty great, with good cash flow and appreciation potential.

You have 3 months (potentially) to get it all sorted which should be pretty easy.If someone is selling a STR, that doesn't mean there are issues.

@Shayan Sameer,The really brief answer is that most of TN is pretty affordable apart from Nashville, which is an expensive, supply-constrained metro.The median home price in Chattanooga, for example, is about $300,000, which is a little above your $200,000 budget.

Down payment of $13K including reserves sounds pretty low to me . ( Based on Maryland )

I went to school at Washburn and my thoughts and numbers are pretty thin in Topeka.

There was no mention or remorse for past declarations, which were pretty set in stone per the loan offer and his communication.

LENDBASE has the following feesConventional:1% origination fee$500 doc fee (est)Title Work TBDAppraisal $2000-$3000Environmental $0-$2000 (depending on search) Which all seem pretty normal, but FIRST they require you pay them up front $4,000.00 to start brokering loans, it’s their "non-refundable engagement fee.”Has anyone ever heard of this ever?

It's a turnkey property I found on RentToRetirement, so It's pretty much already fixed up.

That sounds pretty  bad overall-  but we are all curious ( I'm thinking) : what exactly do you mean and how do you know so much about someone who work for him and how she was treated- did she tell you-??

If you’re even mildly considering making a move, maybe swapping a dusty single-family rental for a sleek multi-unit or a small retail corner, I’m telling you, a 1031 is worth exploring.