Make sure to read your condo rules before going the mid-term rental route. 

Chipping paint on exterior is going to be be your downfall.

Start working on your credit score and research financing options, including FHA or conventional loans.

Commercial loan How did you add value to the deal?

Go to BUILD YOUR TEAM at the top of the screen and look for local investors or meetups in your area.

You forgot to put your location in your profile.

There are several different types of income in the US tax code.Two main types are “active income” and “passive income".Active income is money you earn from working, such as wages from a W-2 job or income from running a business.Passive income is money you earn from investments like real estate, stocks, or rental income from your RE portfolio where you earn $ without actively working.Normally, you can't use passive losses (like losses from real estate investments) to offset active income like your salary from a W-2 job.That is unless you are an RE Pro.The reality is, that Real Estate Pro status is just a filing status similar to filing married or jointly.And if you are a real estate professional you CAN use passive real estate losses to offset active income from other sources.To qualify as an RE Pro you must:1.

If so, you can't really pivot to short-term rentals there and have to capitalize on the inn vibe and in-house services.My major question is why is the current owner, who bought it after it sat vacant for twenty years, looking to sell you the problem they can't fix?

Quote from @Zach Engen: The federal savings bank does 5% down on vacation homes, talk to Jason Wray over there.Email? 

I think Chris makes a good point of determining the strategy - performing 1st position notes is always a safe "dipping toes in the water" type of note to go with.