I live in the Aurora area and I am in a similar position you where, I turn 18 in July and would love any advice on real estate you have.

The cost of living is extremely low compared to other cities and you can still many many positive cash flowing and 1% deals here.

Does the out-of-state investor have an option to have a professional inspection done? 

I use MyRental.com for tenant screening with option for them to pay.

Want to make sure I am taking the right steps in assessing this situation.It's a 2br so roommate is definitely an option.

I I am looking for ways to protect my unique position in having solid buyers and not get cut out of the partnership.

I'm currently a buy and hold investor (utilizing various househacks), but I'm hoping to get into the STR space end of this year/early next year.In terms of your financing options, here are some things that come to mind (albeit may or may not apply to your situation):- Utilize second-home loan option (10% downpayment) if the property qualifies- Utilize a small local bank to see what loan options they may offer (perhaps some may have experience lending on STR?

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

There are a ton of sub $75k options out there.

I just don't know if OC is too saturated with rentals for the summer and we would not bring in positive cash flow to make money off the rental.