. - It's definitely a question that's going to depend heavily on your specific situation and thus, probably should be asked to an attorney.

As mentioned by others, you can also partner with people who have already found a deal but lack the capital - given all the people on this website who post about help with financing, this category of people seems to heavily outweigh the group of well-capitalized investors.

I also have a LOT of clients who are heavily involved in the airbnb game locally.

Your credit will come into play heavily and also your income to debt ratio.

Once you build enough cash to begin buying out of pocket, then you can relax a little ont he repairs but you must stay heavily involved.

I invest heavily in the Milwaukee market. 

So they tax it heavily.

I knew before the building closed escrow that most of the tenants came home from work, took off their shirt and hung their pot bellies over the balcony rails every day as they drank beer (no joke).

A lot of other Airb&b hosts who were heavily leveraged are having a fire sale right now, you're actually not in a bad spot, especially if you can still break even or make any kind of profit while on the PM loan.

I wouldn't try for the most expensive area, but rentals that cash flow in heavily owner occupied areas, especially those with good schools and walkable downtowns are a great thing.