She put minimal down and utilized some state assistance to offset closing costs.

"I pay in cash, no closing cost, no matter the condition BUY I will make you an offer blow market value as a trade off.Not everyone will accept this, but those that do are extremely motivated!

When he does move I am sure you will have some yard work etc to deal with but if he stays a long time then its the cost of doing business I guess. 

We also currently have an LLC set up for our short term rental operations which we have been already running out of our spare room in our home which will cease when we rent it out.

How good must they be to set up a bunch of fake accounts to comment. 

This will be used for repair cost and down paymentAny advices going forward?

My point is that in a market where overall demand is unbelievably strong, the opportunity-cost numbers are not that strong for an all-cash, or any for that matter, acquisition relative to past history. 

My plan is to use FHA, 3.5% dp, seller covers closing costs. 

@Connor GoldenInvesting in mid-term homes means you look at what people need, how much they'll pay, how often it's rented, how much homes cost, and what's trending.

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.This example shows that while the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall annual loss.