But if those payments feel like dead weight, Dave Ramsey’s “debt-free” mindset could be worth revisiting.Here’s a quick story to illustrate.

Unfortunately, that is an expensive time-consuming process.

That's actually one of my pieces of advice for you... learn how to do your own book keeping so you know your P&L in real time at all times. 8) Hard to say without knowing the value of the place, CC&Rs, as well as any HOA fees/dues. 

My suggestions would be in this order:(a) Determine the type of financing you qualify for - this will short cut the process considerably and save time on investment angles and next steps.

That amount is extremely low compared to my other investments which usually make more than a 100% IRR over a 3 year period of time.  

Some folks have already given good advice, and I want to add a quick tip for how to get data on potential STR properties.

Many newcomers spend their first few years working under a sponsoring broker, and during that period, the broker often earns a significant portion of the revenue.

@Michael BenantiFeel free to pm any time if you have any questions or need help.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $8,000

Cash invested: $20,000

In 2013, I decided to put much of what I had learned from books into action by purcha...

People need to quit chasing the quick buck with a promise of fast wealth.