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.

@Chris SeveneyThey did not support the wall correctly and i am going to get basement jacks as well as hire a structural engineer to asses and tell me the long term solution.As far as the sewer line repair,  comps are around 250K,  I am purcashing the house for 85K, i have budgeted 135K so far(without this repair)  I  have a total of 150K renovation budget.

I would not especially if it’s a long term holdLastly if cash flow is negative they pitch in ?

We have some short term debt we need to pay off at the end of July (300k).

In terms of timeline, don't plan for it to be a fast process, your rockstar local loan officer will not be processing the assumption, it'll be a group of call center people reading scripts from a computer screen.

Purchase price: $215,000 Cash invested: $55,000 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’m willing to invest in any market that supports long term rentals! 

Lot of great replies on here already - only thing that I would add to consider is getting a few outside opinions from realtors, other hosts, property managers, etc. about the medium to long term outlook for STR regulation in your specific area.

It's set to open in 2026 - I think that will be big for that area and short-term rentals.

We have agreeable terms.