I'm active duty AF, stationed in AZ until I retire in Nov.

I'm active duty AF, stationed in AZ until I retire in Nov.

I am trying to figure out the steps in which to take in regards to purchasing my first rental home, and I have a stumbling block.My question is, I am going to be using a hard money lender to fund a majority of the property (approximately 75%-80%) then do a cash out refinance at the end of the term into a 30 year conventional note.

If there aren't major structural issues with the rehab, then it looks to me like you've got a winner on paper.

Can a majority owner dictate any rules about specific things you can do with your unit?

Of course, you have to keep doing deals to keep the money coming in, but if you can add in some passive income over time, you'll replace your active income.

I own a mixed use property and majority of the property is for my vacation rental business.

Yes, I recently have met investors who own 35+ homes in Michigan (not Detroit)...Maybe with all this investor activity and bulldozing that will change? 

The area is low income, but high traffic and investors are actively converting homes into small multifamily units.  

Coast but here in WA our RE market is very active (as you know).