I work in a market with a severe housing shortage.

Essentially it works out to them gifting us a house - they'll pay the down payment and reimburse us for mortgage costs each month, and when they die the house will be ours (and we will continue making the payments ourselves or sell it).I'm not sure yet how repairs will be funded, but either we or them could cover those costs financially and neither of us are going to be trying to squeeze the other one, so I'm not worried about managing that. 

I did this by working QuitClaiming the property into an LLC that my attorney had formed. 

You clearly have never own rental properties in NYS, sir.Every tenant gets a pro bono attorney for landlord/tenant matters, and there are TONS of these young law school grads working for United Tenants or other such orgs that are more than willing to make a case out of nothing, throwing it on the legal wall and see if any of it sticks.But, I digress...Here's an angle no one has yet taken on this one. 

Real Life: My client discovered that the PM company was $350 under market rent and allowed for an extra 2 weeks of turn time.

We looked at places in the right neighborhoods that work for STRs a few years ago (pre-pandemic).

Let me know what you guys think I have about 70 K in liquid cash $250k in a heloc , so total is $320k I’m working with Option 1: Go 5% conventional on a two family home which would be about 90 K with down payment and closing costs , I am preapproved for 950 K .

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Value-Add OpportunitiesGiven that you’re looking at a property that needs work, think about ways you can add value beyond just repairs.

I want to learn how this works and build a team.