There are tons of options for you and alternative investment strategies in real estate from rentals, oil and gas, syndications, funds, multifamily, commercial, self storage, tax liens, notes, land….

I have bought a house with an oil tank in an area where EVERY house in town had an oil tank.

Budget for the needed maintenance on your vehicle, oil changes filters and some repair expenses which are going to happen over time new tires things like that.

All the big oil and gas companies are here.

Don't be in a rush to jump into a frying pan full of hot oil.

If you have a gas range and/or an oil-fired furnace now, but plan to switch to switch to electric (range and/or heat pump), you will need the new electrical panel sized for it.

@Damon ReedI work in oil and gas.

Even with the oil crash values have not come down much at all.  

This property is in rough shape.. will need a main roof done soon, will need siding, will need all new windows, both boilers are older, oil tanks are older... clearly, it's not idealBut, the 1st unit I renovated and can be rented as-is for years.. with expected turnover repairs.Once renovated the 2nd unit will also be in good condition and capable of being rented for years as-is.So while I would have preferred we had this property completed updated from the start, the fact that the units are updated and the property can cashflow make me happy and makes completing future repairs easier.- Once both units are updated and rented the Gross rents will total $2,200 per month. - I've talked to my loan officer who gave me a rough quote that we can refinance to get the PITI below $1,100 per month.* This makes me want to keep it, I'm a contractor who's comfortable completing smaller repairs as needed myself, and I have reserves to make large repairs on the fly if needed by hiring out work, otherwise I like the cash-flow for this property in order to build up some more reserve and start tackling the larger repairs a couple years down the road.* My partner wants to sell and get out (which we tried doing at the start of the pandemic, but because the property needs so much work we had no real interest).

I think there's a reasonable argument to be made for having STRs, especially in areas lacking any/enough motel/hotel facilities, or in areas where transience is a fact of life - oil fields, for example.