However, if you're torn between 2 great options with one being familiar and one not, the familiar one breaks the tie IMO.If you're looking to use the property as a short-term rental, the following locations rank as the 5 best places to buy in 2018 (according to a recent report): Panama City Beach, FloridaChicago, IllinoisNapa, CaliforniaTulsa, OklahomaMemphis, TennesseeYou'll also want to consider any additional costs that may be required to effectively run the rental depending on the location and condition the property is in when it's purchased; including home upgrades, management fees, taxes, insurance, and utilities.Before you get in too deep, though, you'll want to check in on the local policies, rules, and regulations to ensure all of your bases are covered.

Podcasts are great but go through other source - books, local REIA meetings, connecting with investors/Sponsors and developing your own set of relationships. 

I always call the broker, just to establish the relationship and let them know my buying criteria and stay in contact.

Hello @Leah Hill, From the figures you shared, you would be able to use these funds more effectively than your current home if you like being a landlord and having investment properties.

Having great relationships with agents/brokers in these markets in very valuable.

@Gina M Coen You are mistaken, the so called "super lien" status here has no bearing.....an hoa foreclosure has absolutely No effect on a first mtg. 

So in effect, only about $50k of your money will be used and $500k of the LOC money. 

Reach out and ask a lender what it takes, build a relationship, people will help you.

Fund that flip, patch of land, lima one, finance of america capital, lending one, are examples of hard money.Private money comes from a person you have a relationship with that lends their own money.Some ways to creatively finance a flip: Partner with an experienced flipper on your first deal.

Is this something I should do promote the relationship with the bank?