I figured that it might be worth it to get my feet wet with this first STR property because it was only 3 miles from my local residence. 

However, a 10% second home mortgage at 3.75 % to wet your feet in the STR business, and see if this is for you is not a bad option to start with.  

(We just have to be on the same page that inspectors are paid to find problems and there is no such thing as a no-findings inspection...hairline cracks in a 50 yr old foundation or a basement that gets wet every Spring is not a crisis in the rental world)Get an appraisal if financing is a concern...every property in Toledo suffers from appraisal discount in my opinion especially in cash-out refi situations, the less time between purchase and refi the lower that number comes back.

Gonna do some exploring there this weekend.Tyrus - I will definitely read the forums, I'm certain every question I have has already been addressed, the truth is, I just wanted to post something to get my feet wet and meet folks like you!

I'm in the US and I have about 70k saved up and I thought about getting experience with a multifamily homes here first to get my feet wet but I'm wondering is it worth trying in a different country knowing that's what I want in the long haul.

I am still very wet behind the ears, but I echo the idea of changing your mindset, especially about money. 

That's just a few sips to wet your whistle.

Yes because they are older, but also because our humid, and mostly wet climate attacks the construction material and the way they were constructed most. 

Maybe he can set me up at the brokerage in the mean time so I can start getting my feet wet, and learn what goes on at these places.

Here is What NOT to do:- Do not spend all of your savings fixing up the okay kitchen when you have not fixed the pipes, replaced the destroyed carpet, and taken out the wet wood panels all because (we are doing renovations anyway)- And do not run around aimlessly How we handled it:- We did spend most of our savings fixing the kitchen and now have to do most of the work ourselves to get the actual issues in the house fixed (Fix critical issues before aesthetics Always)- Fix the frozen pipes: Done- Fix all taps, shower heads, and fixtures destroyed during the flood: Done- Take our the destroyed carpet in the basement: Done- Repaint all rooms, baseboards, and door trims: DoneIn summary, when faced with an issue:1.