With that said, the income can still offset the cost of holding the property as a long-term investment.

So if you are looking to hold long term, you must take that into consideration.

I also have an investment company that has been established for 10 yrs that I’ve flipped a few properties and hold land in.**** My current issue with the lender that I recently spoke with was that I had to have experience building a SFR on my own property and have sold or refinanced and held in order to be approved for the loan.

Hey Natalie if you're set on holding onto the property I have a great property manager I use for my STR's that also will cover MTR and LTR's.

The typical holding period is 5-7 years, I know some DST's that have a 2-3 year holding period.

Buy and hold in Mount pleasant looks good on paper but it will turn out different than you are thinking. 

"Holding onto a grudge is like drinking poison and waiting for the other person to die."

Long term buy and hold RE in good locations is probably one of the lowest risk investment vehicles IMO, similar to blue chip aristocrat stocks except even less risky because even long-established companies can go out of business but real estate very, very rarely ever goes to zero. 

I just want some outside eyes to help me understand if this deal is what I should expect to find as I build my portfolio.I plan to buy and hold long term.

@Patrick Roberts wrote:"@Jay Hinrichs I know of one person who is buying high LTV preforeclosures Subto while they’re off market by paying the owners around $10k-$15k to walk away, quit claiming them into an entity, then seller-financing the entity holding title to the property to owner-occupants under the pretense that it's for commercial purposes on interest-only balloons at inflated values."