Purchase price: $194,500 Cash invested: $51,000 When we talk about long term rentals the goal is to buy something that people are going to live in 3-5 years with the ability to raise rent over time ahead of insurance, taxes and inflation.

I would first start looking at the various strategies for saving massively on tax, mainly the short term rental loophole and real estate professional status and then decide if these strategies align with your goals.

Older buildings, lots of water, insurance issues.

Although, my strategy may work for me, it obviously isn't on the same page as you. 

Using the BRRRR method and 1031 tax deferment strategies are a great way to build your portfolio. 

So they were good offers, though my strategy was not.

Exploring a combination of these strategies, such as using a HELOC for a down payment and securing a DSCR loan for the remainder, could help you achieve your goal of purchasing additional properties this year.

Purchase price: $212,500 Cash invested: $50,000 When we talk about long term rentals the goal is to buy something that people are going to live in 3-5 years with the ability to raise rent over time ahead of insurance, taxes and inflation.

Cash reserves totaling 6 months (principle, interest, taxes and insurance [PITI])2.

There are some things you will want to think about before purchasing in the area - insurance, fire mitigation, etc.