There is really no risk of you losing your investment as long as it is insured and you do your job as a landlord … fill the property, collect rent, maintain it.  

As long as you can afford to make the repairs within the next year or so and you're not spending more than the house is worth, I would move forward with the purchase.

You could get a HELOC in it (as long as you are still living there) and use that money to do some other investing. 5 years from now the beach house could be worth as much as $1.5M which would make for a great $1M 1031 exchange into a small apartment building.

So as long as the value is there (minimum loan amount = $75k), then you should be able to get something out of it.Happy to help where I can, good luck!

Quote from @Dave Skow: @Rajaa Boulassouak- thanks ....if this property is an investment  property most lenders won't be able to assist with a loan for a rental property that's a manuf home @Rajshekar ManalikerYou can most certainly finance an investment manufactured home with a DSCR based loan as long as It meets the following parameters: 1.

DevinYou have done the rental comps and checked how long a house stays on market in your area before it rents out right?

However, in practice, lenders rarely enforce it as long as mortgage payments are current and there’s no added risk for them.If you want to avoid triggering the due on sale clause, the safest bet is to wait a few months after closing before transferring the deed to your LLC.

Ours are passive, professionally managed by someone else and we are fully hands off… Maybe, as long as your CPA has depreciated the STRs, whether they are passive or active, over 39 years, NOT 27.5. 

First you put people on the phone, so that is an intimate situation, second you lead off telling them that they are basically guaranteed to make $500k and will do so for as long as it takes until they get there, then later say it costs $15-40k .. they even say once you make the $500k you'll get the $15k-40k back.What is most disappointing about this is as I did my diligence after the call I found a youtube video of a lady who is NOT a high/medium income individual give her review of the program and she had nothing bad to say about it, she just said she was unsuccessful because she didn't put in enough effort because she had too many life situations going on.

I will help you crush it as long as you’re capable of dropping your opinions and ego and are willing to listen and use common sense.The reason I posted this wasn’t to talk about or promote GrumpyHare, but to teach others through DATA, not nonsense.