Good afternoon and thanks for reading,I have the opportunity to purchase my neighbor’s house (4 bed/4bath/2 kitchens on 3.28 acres of timberland adjacent to prime BLM hunting grounds) in Walton, OR (about 40 miles outside of Eugene) and I need advice on securing capital for the rehab budget of approximately $80k-120k.Purchase price offered to me is $300k with a $50k downpayment and 5% interest with monthly payments and a 1-5 year term. 

My wife and I are considering getting into real estate, possibly short-term rentals.

I am looking to get into the real estate world in the short term with the idea of "house hacking" a duplex-quadplex with an FHA loan to start in the world of landownership.

Jessica - Instead of focusing on the checking account I would focus on a bank that you would like to work with for loans, lines of credit, and other long-term borrowing needs.

Just make sure to shop around for good DSCR lenders and crunch the numbers to ensure it makes financial sense long-term.

Typically when you sell the title company requires forms to state if you are foreign or not, your ID, and they want to send 15% or 10% or (20% for long term) to the IRS at closing.

The first is short-term rental properties.

If long term holds aren't working right now because of high interest rates, maybe look into mid-term or short-term rentals.If mid-term or short-term rentals don't work for a property or market, consider simple fix and flips.If entry prices for simple fix and flips are too high, maybe look for major renovations. 

I haven't done a deep analysis on Cleveland, Montgomery or Buffalo, but I would think they likely qualify at least for the type of long term, cash flow investing we aim to do. 

BP Family - I am currently under contract to purchase a long term rental home and will be closing on July 12th.