You have 3 months (potentially) to get it all sorted which should be pretty easy.If someone is selling a STR, that doesn't mean there are issues.

He told me that without installing a sump pump system (at a cost of $12k), the foundation will continue to deteriorate, which could eventually lead to bowing basement walls—an issue that could cost upwards of $50k to fix.The inspector asked if the previous homeowner disclosed any water damage.

The property will be strictly for investment purposes, not a primary residence.I’ve been looking into two potential financing options:Hard Money Lenders (HML) – I’m drawn to this option for its speed in closing, but I know the rates can be higher.DSCR Loans – This seems like a great option for long-term rentals, but I’m unsure if it’s the right fit for my auction property since it might need some rehabbing.I’m also considering purchasing through a land trust or an LLC to add a layer of protection and privacy.So, my questions are:What’s the best way to approach financing for auction properties?

Yep, off water, but with nearby water access and view seems to be the same ROI considering the cost of the property. 

But weigh the costs of insurance and taxes against the cash flow and make your decision accordingly.

Unless you're in a Class A Neighborhood like Palmer Woods, Indian Village, Sherwood, etc,. the additional rent probably won't support the cost to build:(More profitable to take the build funds and buy another property.DM us if you'd like to discuss more...

As the market evolves we've intensified our commitment to helping investors focus only on listings that are eligible for vacation rental usages and either; have exceptional existing production or high potential for rental performance.

Since you’re still figuring out where to invest, look for areas with strong rental demand, good schools, low crime, and potential for future growth.

I’m potentially looking to purchase a mid-term or long-term rental property in a different state because I feel I may be able to find better deals elsewhere.

This could be less costly and smaller hurdles than you would have with hard money lenders.