I think the Iowa City, Coralville, and North Liberty markets offer great rentals with lots of different types of levels of rent.

Typically, when funds acquire loans, they assume delinquency/default risk in exchange for earning a yield on their investment.Yet this would work differently – it’s a request to purchase debt alongside a corresponding put option/insurance policy.From the buyer’s perspective, as long as the seller remains solvent, with sufficient liquidity for any exercised options, it’s a risk-free investment.

I don't see a lot of 5-6-7 unit properties anyway, but if they exist, different lending and significantly reduces your exit strategy in today's world. 

As I explore different property types and investment strategies, how did you determine which path to focus on initially?

Absent these type of relationships, I've seen to many projects get delay or fully stall out as the disconnected subs end up causing delays or the need to redo work that got done by a different sub. 

I've held several different jobs just to make ends meet until this year.

Short-Term rentals are treated differently than traditional rental property.

If you tell me the majority of the partners are merely writing checks and are passive LP's that's different but that's not what this sounds like. 

What would be the best and smoothest way to transition the tenants to a different payment option?

@TJ BardossasRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.