Good afternoon and thanks for reading,I have the opportunity to purchase my neighbor’s house (4 bed/4bath/2 kitchens on 3.28 acres of timberland adjacent to prime BLM hunting grounds) in Walton, OR (about 40 miles outside of Eugene) and I need advice on securing capital for the rehab budget of approximately $80k-120k.Purchase price offered to me is $300k with a $50k downpayment and 5% interest with monthly payments and a 1-5 year term. 

However, it mainly depends on LTV, cash flow, and credit so it is hard to say without knowing the full details.

My wife and I are considering getting into real estate, possibly short-term rentals.

Unfortunately, this was not clear in the book, which is unfortunate, since otherwise it is a very good and detailed read.

Can anyone share details with me?

Rahul, I have about 10 you can talk to. you'll also want to have an equity partner with new build experience so you can get the best terms. most of ours are national lenders. we doing joint parnterhsips for new builds and take a small interest in a single purpose entity for example:Rahuls New Build LLC (95% owner)Pink Development and Construction LLC (5% owner, no voting or distribution rights)Take title to "Miami New Build Limited Partnership LLC" which is a single purpose entity. 

I am looking to get into the real estate world in the short term with the idea of "house hacking" a duplex-quadplex with an FHA loan to start in the world of landownership.

Typically when you sell the title company requires forms to state if you are foreign or not, your ID, and they want to send 15% or 10% or (20% for long term) to the IRS at closing.

Jessica - Instead of focusing on the checking account I would focus on a bank that you would like to work with for loans, lines of credit, and other long-term borrowing needs.

Just make sure to shop around for good DSCR lenders and crunch the numbers to ensure it makes financial sense long-term.