They were mainly for long term vacancies, with exception of one.The first time was 2012 when I dabbled at buying a rental.

It would be a long term rental.

Life is too short and real estate investing is not worth it for a lot of people, as it is stressful and can be very expensive.

I grew up in Memphis where I own 4 long-term rentals that are SFHs.

Purchase Price:Total: $1,985,000.Deposit: $10,000 (First Deposit) within 3 days, additional $30,000 (Second Deposit) within 30 days.Seller Financing: $297,750 (15%), 5-year term, 20-year amortization, 6% interest.Balance: $1,647,250 to be paid at closing.

If I were to do so, I'd definitely look for small multi-family as opposed to SFRs, unless you're wanting to create a short-term rental(STR). 

He than stopped the transfer because he did not like the terms of his mortgage.

Hello all,Would love to hear your thoughts on whether there is a beach town that allows short term rentals in California, and where the following plan may make sense. 

They are all in your offer terms.  

The intent to buy, rehab and sell immediately after it is rehabbed.There is no intent to hold it as a long-term investment2.