All of my customers in NJ, NY, CT, CA, WA and other states are all buying in those states as well as a few others.The price to cash flow ratio is going to be better in those states as well as having a higher inventory of both single family and multifamily rental homes.

- How would one run the numbers on a mid term rental when it comes to startup costs, rental rates, and operating costs?

I would appreciate any tips, advice, or recommendations for books and podcasts that have been valuable to you.I’m also interested in hearing your stories about how you got started and the challenges you faced along the way.Thank you for your insights.

It would most likely in my opinion be a owner financed deal.

I wanted to reach out to see if you could provide any guidance or ideas on how and where to start with this process.Any advice or resources you can share would be greatly appreciated!

What would be your next steps?

Because of your loan size, I would advise to buy the rate down using up to 2 points as those usually have the quickest ROI for the payment savings and you will not see rates drop low enough probably to do a refinance that makes since as it would take longer to recoup the cost of the refinance.HomeStyle Renovation loan does require all work be done by a GC so you cannot help with the repairs. 

You shouldn't be buying via auction as a new investor.

They seem to be listed too high and there is no room for the 70% ARV rule.

@Jake Thorpe, I would seek out a good public insurance adjuster.