Purchase price: $160,000 Cash invested: $40,000 Sale price: $268,000 I bought my first house in Kalispell Montana as a long term investment and possibly a rental.

From my experience working with over 400 investors, starting early gives you a huge advantage in building long-term wealth.

Pensacola has a lot of potential, and I’ve seen investors do really well in the area with both long-term and short-term rentals.Since you’re just getting started, here are a few tips that might help:Know Your Market: Pensacola’s mix of military families, college students, and tourists means there’s a steady demand for rentals.

If you're younger then it might make a ton of sense to take down anything you can as long as it cash flows. 

Long term goals in mind that I need a track record and capital for! 

Sometimes, buying an existing property can be more cost-effective and less time-consuming and maybe require slightly less permits, etc. 

Has anybody found a workaround for this or would the seller simply have to hold the note long-term without the option of selling it?

I wanted to ask advice of some of you who have a lot of experience in long-term rentals. 

We are based on Long Island but invest in Milwaukee WI. 

If you are looking at this property from a residential and rental perspective, then it may work as long as you are willing to put your own income into the property.