@Noah Laker Will you be running the house or leasing it to a company.

The mid term rental company is great but real wealth comes from long term ownership.

If you are able to actively use the funds I would say start a real estate marketing company with it. 

Better if the company has a lot of info in writing that you can absorb to minimize this.

You can usually request this from a title company or look into public records in your county’s clerk or recorder’s office.If you’re not sure how to navigate this, contacting the auction house or a real estate attorney familiar with foreclosure auctions can help ensure there aren’t surprises.

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

Even the best property management companies (PMC) struggle with:- Finding reliable handyman and contractors (ServiceTechs)- Same with affordable ones- Tracking preventive maintenance- Tracking previous work for potential reoccurrence warranty coverage- Understanding tenant reported problems, so the correct ServiceTech can be dispatched- Determining if tenant is at fault for an issue & should be charged - and will proof stand up in court?

*Prepare for high insurance costs by running a few properties by your STR insurance company before making a purchase.

Old post but I figure I would comment here... my Company, Maven Cost Segregation has done studies on projects like this.

I follow Dodd Frank, I use an RMLO, I have a title company close the sale and offer title insurance.