For example, if this were your property how would you proceed?

Why do you want this property over another brownstone that would be for sale?

Plus, it looks modern and can increase the appeal of your property to future tenants!

@DeAnna McKillop-LopezKeep it simple to start, unless you have more than $10M there is no need to do anything but by the property in your name and get insurance if the property is a single family rental.You can do all these other methods but they just cost you money every step along the way.

I own 5 other properties in Gilbert within 2 miles of this property and I'm very confident in this area long term.

Most credit unions do not help with non-owner occupied properties. 

How much will you pay for the property?

We would get a better conventional loan rate on a new primary (vs investment property) and be able to put less than 20% down (if we wanted to).

I'm hoping to lock down my first investment property in CA before the new year, God willing!

I intend to relocate to the Rapid City, SD region in April/May for work, and I plan to acquire a primary residence that could eventually be transformed into an investment property.