I have talked with 3 Investors this year that have done that same thing.  

This is a bit tricky, but you can do an option-lease contract.

Since your goal is passive income, breaking even, and long-term wealth, here are some general steps to guide you:Location Research: Focus on areas with landlord-friendly laws, especially since you want to avoid tenant-landlord issues like those in New York.

Be very cognizant of the STR and HOA laws and codes wherever you plan to do this.

This rate for me was 3.3% on a 5 year balloon with 20 or 25 year ams.

@Christine House This can be the downside with investing in properties that have a HOA (sometimes they have a max capacity of how many rentals can be within the HOA, what type of rental they can be, or they can cut off rentals all together at anytime)If you have family that lives in the area, that could be a better option temporarily until you move it on into something else that can work for what you're tying to do.

Hey @Eric NielsenSomething I would recommend for you is this website. https://www.areavibes.com/Use this rating and classification system I have created over time to get an idea of the "Class" for the area - A class B class & so onHere is my rating & classification for each livability score. 80 and above A+78/79 A76/77 A-74/75 B+72/73 B70/71 B-68/69 C+66/67 C64/65 C-60/63 D59 and below F

I have 2 cars that we are trying to exclude the payment from for dti ratios.One was owned at $852 monthly payment (this was refinanced to remove borrower from the loan)this one is giving me a problem because they are asking for payoff but honda is saying they take up to 10 days to be able to send it.Any guidance on a way to get this closed sooner would be great, seller is on a tight timeline.Second one is a lease that we have had approval to terminate (for $2600 fee) and then that one would be excluded.

How did this turn out for you@David Robertson?

This works out to ~$35 - $45 per hour which I find fair.