In short, the previous owner made a deal and sold the house while they were still living for monthly cash payments until they died.  

Projected sale: 950-990k Replacement property budget: 990k - 1.1M Plan: rent out the replacement home until meeting the requirements, then move into it while renting out a portion of the home via short-term rental 

There are some very aggressive investors that refi into interest only products to free up even more cash in the short term - this can be much more risky though, so not recommended if you are not very experienced and have large reserves.

I'm considering purchasing a condo or a small SFH in the Oceanside/Carlsbad area as an investment property and renting it out on a short term rental site like AirBNB. 

I am thinking of starting with rentals, be it short term, midterm or longterm. 

The quick short answer in my opinion is this: If you want growth stick to the small multis that you know and once the mortgages are paid off retire fully.

Thanks in advance,Keyshawn Good morning, the Destin market allows for short term, mid term and long term rentals depending on the area.

In short it's this: Seller is facing foreclosure nightmare.

I like this idea because it reduces the potential vacancy I could have by doing a short 3- to 4-month lease that ends in April or May, then starting over with a year lease.

Durham on the other hand is a great opportunity for investors seeking more short-term growth, more options, and higher likelihood of cashflow.