I visit and analyze the property, and estimate rehab costs (with experienced inspectors and contractors), add a buffer for unexpected repairs, and provide a financial model with an ROI comparison of a traditional rental vs. short-term rental.Any guidance/tips (positive comments only please) would be greatly appreciated!

I am 22 years old and just started working full time but my long term goal is to be financially free.For the short term I will continue to listen and read more books.

If I take a step back in the short term then so be it. 

It was a reverse mortgage sale and owners have turned over to bank and realtor assured it was clear title/deed with no special issues to work through like short sale etc.

This is a very well to do area, you must have connections in finance realm that might be able to get creative with the numbers, or personal connections that would be willing to ease the burden for you over the short term and get a cut of your profits on future flips where you stay within your profitable sweet spot.Your other set of possibilities are legal, and that is really something you need a good PA real estate attorney to pour over your loan docs to see what your options are. https://www.foxrothschild.com/gregory-j-kleiber/

Do you guys know of any avenues I can take to get a short term loan to fund the project?

Would your purchase price cover all principal, arrears and legal fees or was it a short sale?

We bought our SFH in Dec 2010 as a short sale for $425k.

As my colleagues explained, the short story is:there are no tax benefits from LLCs for rental propertiesyou may still want to create an LLC (or several) for legal protection reasons, not for taxesasset protection is for attorneys only, not for friends and not even for accountantsif your business becomes something other than rentals - then you might need an LLC for tax purposes, but it's a separate conversationGood luck!

. - Lot more inventory to work with (flexibility)- I see many affordable homes 150k-250k range and multi unit homes around 250-400k range- Thinking of buying between or near UNLV university/ main strip so I have faculties, staff, students from the universities as well as employees from the casino/hotel- Property Tax is cheaper (but can be a con in other states).Con & other inputs: - I feel like Las Vegas have short term residence more than long term residence (most of the properties seems to be owners who are not purchasing to live but to use it as vacation home or short/long term rentals.... so many properties can be vacant and potentially allow squatters/long eviction process)- Nevada law require a "responsible" person aka landlord/property management within 60 miles - Distance (I like to buy my properties locally because I can stop by or fix something if needed either by myself or contractors that I work with/familiar with- Property Management fees since long distance - Finding a property management company that is reliable and trustworthy. - Unfamiliarity with the area/surroundings- Lower Rent compared to CA but I know I can't compare apples and Oranges (But I don't want to invest just to break even)------------------------------------------------------------------------ Tax questions ***Some state does not have tax on income(?)