Every month of delayed occupancy is a month of delayed rental income, while you are still paying mortgage and holding costs.

Shortly after the purchase, I shared my journey on BiggerPockets (www.biggerpockets.com/forums/88/topics/921192-my-first-ever-44-unit-mf-apartment-closed-in-dec-2020#p5370534), and the community’s support was incredible.

@Breland ClarkCongratulations on your first short-term rental (STR) purchase!

I have a network and will be having those conversations but what the books don’t teach, and what I haven’t found here are specific terms. 

I’m concerned that $60K ($50K after penalties) won’t get me far in starting a short term rental though… I’m also hesitant to do a cash out refinance on my home loan because we have a great interest rate at 2.625%.

Normally, it's a counterproductive move with such short cycle.

Generally speaking, the responsibility for repairs like this depends on the lease terms and local landlord-tenant laws.If it was a malfunction with the lock (wear and tear), it could be considered the landlord's responsibility to cover the cost, since maintaining the unit in a habitable condition is part of our duty.

If you are a buy and hold investor, then you go where the numbers still make sense.

I'm interested in buying and holding single-family and/or small multi-family properties.

Yes, they don't have as many restrictions in terms of Attorney's needed and silly laws but, If you can conquer wholesaling here?