The type will depending on your entity setup, familiarity with accounting, interest level, etc.

@Gary Wildey There are numerous factors, and a huge one I would echo is what @Michael Dumler mentioned: if you don't have a team in ANY market (whether in market or OOS), it can add another level of difficult to your investment.  

It seems to me to be pretty risky for a newer investor, but I don't know your level of experience. 

Often porches above a certain height need balusters and rails and steps above a certain level need sturdy hand rails. 

.), try :STRATEGY: Start Up Guide to Short Term Rental Investing.This is a very intro level book with the background of how to get into Short Term Rentals. 

While I do ask questions about leins, ownership etc, I want to be able to have a high level of confidence that the property can actually close before I spend any money on inspections or appraisal etc and ensure that the closing duration is long enough for all this to properly happen. 

And those loans that you possibly could get without a job will require significant liquidity and net worth, on top of typically only being available at the $1mm loan balance level and up.As for buying a property cash, you could.  

Purchase price: $187,000 Cash invested: $15,000 End of 4 unit townhouse group, split level, 2 bed, 2 bath, 2 car attached garage What made you interested in investing in this type of deal?

I figured I would have to let the house "season" for 6 months to a year so that I have time to BRRR - renovate it and let natural appreciation hopefully raise it to a level that I can get most (if not all) of my original HELOC out to replenish my stores. 

All investments have some level of risk, but multi family real estate seems like a better place for consistent gains right now than stocks or other investments (and I already have lots of exposure to equities through my TSP/401k).