So, here's my question: How would you acquire money to buy a home as a temporary residence, potentially flip, or rent out and add to your portfolio?

I was contacted by a potential investor in the Smoky Mountains asking my opinion on the earnings potential of a cabin. 

Rehab cost can potentially be lower. 

Ideally, you have a shut-off for it but if you don't make sure you buy one of those insulated boxes that can cover it up during the Winter months.

Acquiring homes that have ADU potential.

The houses you are looking at are before the advent or wide use atleast of plastics that make up the pipes(PVC)and insulation around the wires in modern homes.

We typically see things come in around-basic level rehabs (kitchens, bathrooms, flooring, paint, some minor wall patching) around $30 per sq-ft-mid level (same as above but with possible roof, siding, major system upgrades, ect) at $50 per sq-ft-full rehab including above but with framing, foundation, new insulation, new drywall, doors, trim, ect around $75 per sq-ft- rebuild, additions, add a level, ect $125 per footThere is no one size fits all and no two rehabs ever go exactly the same, there are always unforeseen things you find once you start working, but that should give you a ballpark. 

Lower tax rates on income, but high property tax and insurance seem to be potential issues too...

If you do go this route, make sure you thoroughly vet out your potential partner and have a solid agreement in place to protect both of you. 

I feel like we may be in a favorable position to leverage this home and potentially begin a real estate portfolio and/or generate income, but that's merely a guess on my part.