I've always loved this house and because it belonged to a client I was fond of and he passed away unexpectedly I felt a strong emotional tie to this one.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

He also surprisingly paid this month as well.

It took more than one call, but this was an unexpected start. 

I'm surprised you've got a house under contract without having clearly identified the source of your down payment.

The most important thing is to have your investor documents really clear on your strategy of the cash out so the investor is not surprised in the end.

Although it doesn't surprise me because it's a pretty renowned medical center.

I would also advise you to look for a newer build to minimize maintenance costs and avoid hidden surprises and the initial rehab work.

Also if you’re looking for a realtor I recommend Ryan Blackstone and his team :) he’s on these forums so I wouldn’t be surprised if he sees this! 

We started 5 years ago and we have 3 properties that are short term rentals that we manage remotely 7 hours away.We decided we wanted to do short term rentals instead of long term because they seem to have higher cash flow, and we were willing to accept the additional work and risk involved with them.Some advice to consider:- To help sleep better at night, go into your first deal with some additional emergency savings for anything unexpected that you didn't consider.- Purchase unique, vintage, higher quality furniture on Facebook Marketplace, estate sales, and garage sales instead of buying cheap stuff from the big box stores.- The automation services such as Hospitable, Pricelabs, etc. are worth it in my opinion