I know of at least 4 instances where investors purchased properties with agent representation that had intentions of doing an STR only to be denied a permit by the city after closing.Let me know if you have any other questions. 

Hey all,I bought my first home (currently my primary) last year and am now looking to purchase a Long term rental property.

Hello BiggerPockets Community,I recently closed on a duplex near Florida A&M University in Tallahassee on March 31st. I'm currently living in one side of the duplex and planning to rent out the other side. The pro...

I am interested in purchasing a home that has been recently known as a squatter house. 

It appears you purchased in mid 2020.  

Did anyone recently purchase a property there and hows the rental market?

Hi Griffin, It is not uncommon for hard money lenders to finance 90% of the purchase price and 100% of the rehab cost on a 6-12 month term, and then they'd be able to assist with long-term funding for the property once it has been rented.

If I purchased the property how long, and difficult would it likely be for me to evict the squatter?

In general, you will want 25% of the purchase price to buy the property, but you should also maintain a reserve to deal with unforeseen expenses like vacancies, maintenance, etc.Before you even begin, I think you should focus on a little education.1.

With greater appreciation, you can leverage that increased value through a HELOC or cash-out-refinance to purchase or rehab your next investment property.Where to begin?