I have 2 SFH, both purchased using house hacking.

Purchase price: $325,000 Cash invested: $50,000 This time I acquired a property that needed little to no work.

For this example, what's the purchase price and how many bedrooms?

Quote from @David Cherkowsky: Quote from @Sasha Mohammed: Hi David,There are lenders that will allow you to purchase via a DSCR loan using STR income to qualify.

I was able to qualify for about $95k in 0% business credit cards (for 12 months), I then liquidated the cash and used a portion of that to obtain the hard money loan that covered the balance of the purchase cost.

When I am looking for a new investment property and am strapped for cash, I typically look off-market and try and find something that can a seller is looking to sell that needs minimal repairs to be rent ready and the purchase price is 80% of the ARV this way I can use private money to buy in cash, do the repairs needed then refinance on a DSCR loan and pay off the private money loan. 

This amounts to lost opportunity because if you had purchased RE, at the closing it can start producing return. 5) ADUs detract from the existing structure whether this is privacy, a garage, or just yard space. 6) this is related to number 1, but there are many more buyers looking to purchase homes for their family than there are RE investors looking to purchase small unit count properties.

We've essentially ruled out investing in our local community because we can't seem to find a good deal (we live about 1.5 hours north of NYC, so purchase prices are very high), so we are considering (1) investing out of state; or (2) investing in some northern NY localities (Syracuse, Albany, Rochester, etc.). 

The owner has purchased a property like any other real estate transaction, and they own the physical property. 

The purchaser of the property, sometimes the foreclosure rescue artist, is now free to refinance the property or to sell the property to another party.