I am now approaching 115+ days since assignment on my first 3 deals and because I am in NYS, my attorney tells me that I cannot even speak to buyer’s or seller’s attorneys due to “breach of contract”.I lost my first deal in fact because we were hindering on 130 days since assignment (should have been long closed) and the city decided to demo before we closed and were able to takeover in court.

However, he starts to talk about how you may sometimes overpay for a property because you are not necessarily worried about what the property is worth today but about the “long-term play.”

Now both sides are long term rentals for me.

As long as you are living there, it shouldn't matter. 

It is a long process with these institution size lenders, especially finding someone there who understands the process.

Most are nation wide and will lend to wide variety of products such as a fix and flip loan, bridge, and long term DSCR loans.

Looking at long term renting vs short term airbnb.

As well as, manage real estate assets for the long-term.

You begin to acquire properties to hold for the long term, creating a steady flow of passive income.

As someone with basic framing/DIY knowledge, this is something I would feel comfortable tackling over a long weekend and would only cost me around $500 in materials.