I can help you explore refinancing options in the future to lower your interest rate, especially if market conditions improve.Living in the property for 18 months while renting a room can help you offset mortgage payments and reduce living expenses.This strategy also gives you time to understand the local rental market and plan for full rental income after you move out.Fixed-Rate vs.

My research on being a landlord has reignited my interest in real estate investment.I hope to buy a property locally in the next six months and then expand to another state within a year.

Try to network locally with some contractors that have done the kind of work that you're hoping to do and ask for some of their most recent proposals. 

Hi BP,I'm a local Realtor/investor to Sedona and find myself traveling back and forth to the airport in Phoenix a lot.

The more important thing is developing a local team to help you invest.

Here are some considerations for commercial real estate:Higher Income Potential: Commercial properties often generate higher rental income compared to residential properties, especially in prime locations.Longer Leases: Commercial leases tend to be longer (5-10 years or more), providing more stable cash flow and less frequent turnover.Tenant Diversity: Depending on the property type, you can diversify your tenant base, spreading risk across multiple businesses or corporations.Market Dynamics: Commercial real estate can be more sensitive to economic cycles and local market conditions, requiring a deeper understanding of business trends and tenant industries.Purchasing: Generally, commercial real estate will require 20% down.Choosing Between the Two:When deciding between commercial and residential real estate, consider these factors:Investment Goals: Are you looking for steady rental income, long-term appreciation, or both?

We originally purchased side-by-side lots in this neighborhood for $68k from the local MLS.

Talk to the local building official and get their take on the building's status.

@David RutledgeRealtor here who works with investors in both the STR and LTR markets.Consider my local area of Long Beach, CA.Most of LA and Orange County are STR-unfriendly but Long Beach just opened it’s regulations to allow non-owner occupied STRs.Aside from being a beach town in it’s own right, it is quickly becoming an aerospace hub.

If so I would recommend local meetups and meeting folks from BP forums who are local.