So for the short term, you need to keep enough funds to protect for any negative cash flow you may encounter up front.  

Services You Can Shop For $2,745Home Warranty Premium (Optiional) $550 Title - Closing Protection Letter $50 Title - Lender's Title Insurance $1,065 Title - Lenders Endorsements $475 Title - Notary FeeTitle - Settlement Fee $455D. 

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As Dan said I would look into Airbnb depending on how short short-term is.

@Sharon Deloris, I think the question on whether to sell comes down to what you think are the valuation prospects going forward and also what is the durability of this premium rental rate you can get?

I would think when the seller wants a premium price to sell but is getting tired of being a landlord.

My (relatively) short term goal is to be financially independent by 35.

I visit and analyze the property, and estimate rehab costs (with experienced inspectors and contractors), add a buffer for unexpected repairs, and provide a financial model with an ROI comparison of a traditional rental vs. short-term rental.Any guidance/tips (positive comments only please) would be greatly appreciated!

I am 22 years old and just started working full time but my long term goal is to be financially free.For the short term I will continue to listen and read more books.

If I take a step back in the short term then so be it.