I have read that FHA allows you to take out a loan as long as the commercial portion of the building is less than 49% of the square footage. 

So even if you are allowed to rent out as STR today, the HOA could change that and impact your ability to rent as STR.  

We constantly get offers on our out of state properties but have no interest in selling, leaving to our kids, so no “deal” to be had until our kids own them.

It was a slow start to the initial spring 2024 shopping season, but properties are still closing quickly, still nearly 1/4+ for all cash and the majority of investors are well capitalized due to the appreciation of their real estate and stock based assets. 

Once you finish the rehab, you can then refinance using a DSCR loan.Do you have enough funds saved up to start buying properties or do you need to refinance your current rental?

So how does one balance a ton of work with starting out buying real estate?

I agree with wanting the first one to be a "win", I'm just concerned that makes it harder to find something that will cash flow.

We were going to start gifting them money to help cover those expenses when the idea came up of buying their house to give them a cash infusion.

Feel free to reach out if you'd like to connect!

Might be able to pump it up out of the basement entirely if you are creative.