@Yu Jin SongI do not specifically know the market but I use Vestmap's zipfinder to look for areas I would invest in nationwide.

As with any Real Estate purchase, you need to read the documents carefully.

For example, the house is old so if they see all new PVC plumbing in it and there was not even one permit pulled for that, you can be sure it's an issue.Here in Hollywood, Florida....I know a guy that purchased a home. 

Purchase price: $289,000 Cash invested: $106,000 4 bed 1.5 bath, value adding to this property to a 4 bed 2 full ball and finishing the Attic and basement What made you interested in investing in this type of deal?

I am new to real estate investing and was looking into taking a heloc on my primary to purchase land and do a construction loan.

We also had the seller buy down our rate which helped.If you're open to investing in different markets but want to stay in Boulder, you might find a good enough deal to make it worth purchasing an investment in a different market first while continuing to rent in Boulder.

I think there may be some condo rules/by-laws that prohibit this (that when a unit is purchased it needs to be owner occupied first and a for a certain amount of time before renting).

Hello, I'm purchasing a single family home from family without an agent & want to make sure the Purchase & Sales Agreement I drafted is adequate. 

I would think that if you have an FHA Loan in place you could easily keep this property and turn it into a STR.Also, you can have up to 10 FHA loans out at 1x before you have to get into DSCR Loans.If I were you, I would go purchase the new property, and then wait 60-90 days, and see what type of Refinance I could get on your 1st property. 

A combination of lack of infrastructure partnered with historic highs in population growth specifically in new international students pouring into the area to attend Cape Breton University, has presented less then a 1% vacancy rate on the island.