Keep that in mind if you plan to scale and buy more properties. 

Hi JoseOverall, your plan is viable, especially with significant equity and an unconventional financing option (WLI cash value).

That will involve settling on your plan for renovating.

I was told by another investor that I will run into a seasoning problem, but i don't see how if i don't plan on refinancing.

Any advice would be appreciated.I would first talk to a real estate attorney or a foreclosure attorney to make sure that the way you plan to do things passes muster.

Some other factors to consider - How long are you planning to hold this property?

The local property will give you practical management experience.You might do better buying a REIT if you are planning to buy single properties far from home.

Quote from @Gamal Harding: Anduril Industries' Expansion to Columbus: A Transformative Move for Real Estate InvestorsAnduril Industries, a prominent defense technology company based in Costa Mesa, California, has announced plans to establish a new manufacturing facility in Pickaway County, near Rickenbacker International Airport.

Remember, in this model, you are planning on holding on to these properties as rentals so pay now in quality, or pay later in headaches and repair costs.

I have the Pro plan so it integrates with my August smart lock.