Here are some key strategies to consider:*Invest in Distressed Properties – The best deals for investors often come in foreclosures, short sales, and older homes in need of renovation.

I’d recommend connecting with local property managers and agents as soon as possible—agents can help you identify deals that fit your BRRRR criteria, and property managers can give insight into rental demand and market rents.

@David PopeYou probably inherited a 5.6% interest in a partnership which owns the property, as opposed to having a direct 5.6% ownership of the property.

I got the property off-market for $250k from a trusted family friend.

An argument can be made that you build wealth FASTER with higher priced properties.

If you're wanting to use leverage to buy more properties, then once your credit is around 680+, one strategy would be to cashout refi your current property at around 50% LTV.

I would only encourage you to switch your property to an STR if you really want an STR.

Quote from @David Mancia: My Name is David Mancia, and at the end of last year I finally took the plunge and decided to contact RTR to buy my first out of state property, and I was contacted by Ms.

Trying to “take over” a vacant property that appears abandoned is not for the untrained would-be investor.

Also, the property itself is also worth 1.4-2.03 million as is with no house built on it.