Being able to take advantage of loan programs that are specific to first time investors is huge. 

We would join their 'owner program' which entails letting the resort property manage it. 

As the others here mentioned before, it's critical to check with the local planning commission and city/county governing bodies.  

Definitely speak with key non-recourse lenders like First Western Federal Savings or North American Savings bank about their programs before developing a strategy. 

Hi Manu,With a six-unit property, and assuming the other attributes meet the constraints of the loan program, you may want to look into the Freddie Mac Small Balance Program ("Freddie SBL").

3/5/2019Sherelle – thanks for the post / questions and outline Fyi – there are some conventional loan programs that allow a 3% down payment ….I would recommend using this program versus a fha loan program if possible …this is because with a FHA loan the monthly mortgage insurance remains with the loan permanently and with a conventional loan – you should be able to eliminate the mortgage insurance in the future ……Also – if you use a FHA loan for the first home - using a FHA again for next property might be an issue …..you allude to this in your question #2Regarding cash flow analysis ….other items to factor in : utilities / property homeowners insurance ( this will be a little higher when you live in home and should decrease a bit once you convert it to a rental policy / are there any deferred maintenance issues on the house ( roof / furnace / water heater / foundation are the bigger tickets items to watch Definitely get pre approved so you know for certain what you can afford and also so you can begin becoming more familiar with the numbers …we can assist with this if you want - contact us Thanks and I hope this helps Dave Skow 

I am not focused on Vegas right now but here are the things to look for when choosing an area/city to invest in:projected job growth rate of foreclosure filings is the city government investor-friendly?

They have programs to put multiple properties under one loan

We're in scary times where the government is making it very difficult to do business here

:)Turbo Tax is a great program.