ITs going to depend on a lot of factors but just jumping into STR "around the country" (i.e. potentially very far from yourself) is going to be challenging - property management fees are going to eat up a lot and its hard to cash flow as it is with current rates/prices.Most people would start with LTRs as its generally good for the "first investment" to be more of a learning experience and chalking up a lot of mistakes - so keeping $ amounts low, leverage conservative and the investment as "vanilla" as possible is generally good advice

If rates did drop, that 3 year fixed period means their rate would automatically drop with it, so they wouldn't have to refinance if they didn't want to, but if they did want to (cash out refi made possible by a recession forcing more elderly people into assisted living facilities, thus driving up rents, and the value of assisted living facilities? 

Purchase price of $76k if purchased with cash or financing, or $85k if purchased with seller financing.

Purchase price of $76k if purchased with cash or financing, or $85k if purchased with seller financing.

Also, I have about $8k in cash and no debt at all! 

Sounds like a cash out refinance would be a great option.

I am aware of the Sewage issue and i am aware that in this high interest regime it won't be a cash flow property.

You also need to have cash or access to cash to buy Tax Liens.

If I know if the seller paid 3% commission, I can save 3% on my side.

For 379k and it cash flows.