Many months of rates moving at most a few basis points a week morphed into dramatic, massive movements—with bigger changes sometimes happening in one day than had occurred in quarters or years prior.Real estate investors navigating the challenging market of 2024—with mortgage rates still at elevated levels—are at an advantage when they can lock in financing terms or plan purchases while DSCR loan rates are favorable.

And were you an original investor in it? 

You WILL get several bad apples.a few short term rentals (2 or 3) may be doable, but you still would be trying to find good tenants fast, which is difficult.

If you skip using a new loan, you avoid the costs of origination and high interest rates, It works well for our clients in Phoenix and in CA. 

We (my wife and I) decided instead of buying a new home and renting our primary we would buy an investment property with the funds instead and just sit tight in our current home in the short term.

If I made any substantial additions to it, I would be happy to share it with the community and give credit to the person who made the original.

However, if it needs that much work you are probably better off going with a hard money loan and then doing a rate & term refi once rehabbed.

Mainly because I can craft the mortgage a little more (no pre-payment penalties, lower down payment, etc.) and eliminate the fees charged by lenders and brokers.One of the benefits of purchasing a listed property is that the broker will normally set the seller's expectations a bit more than you just contacting them off the street.It comes down to what the seller really wants: a certain price, interest, down payment, or term.

I was direct to the seller/originator.

There are opportunities for various strategies here- short-term rentals, medium-term rentals, long term rentals, BRRRR, flips, etc.