Good afternoon and thanks for reading,I have the opportunity to purchase my neighbor’s house (4 bed/4bath/2 kitchens on 3.28 acres of timberland adjacent to prime BLM hunting grounds) in Walton, OR (about 40 miles outside of Eugene) and I need advice on securing capital for the rehab budget of approximately $80k-120k.Purchase price offered to me is $300k with a $50k downpayment and 5% interest with monthly payments and a 1-5 year term. 

I was offered a partnership for a physical fitness class.

Those waiting for a recession will be waiting for a LONG time...it isn't happening this economic cycle, the stubbornly high inflation rates indicate that.A few points above to reiterate: (1) real estate is LOCAL, while there may be some worrying trends nationally, the Harford County market is strong and will stay that way IMO, (2) timing the market is generally a fools errand if you have a long term outlook (if you're looking at short term investments then timing factors in more), (3) if you're looking for a place to live (not strictly an investment) then there are a lot of other important factors to consider.Bottom line is that if you have the means, and if you intend to own the place for 5 or more years, I personally wouldn't hesitate to jump in.

I live in the Daytona Beach area & finding something turnkey for sale that will cash flow is very difficult, the prices are still too high.

Upon entering, you are greeted by the soaring ceilings, a set of winding stairs that mirror each other & marble flooring that offers you your reflection, all working together to draw you into the experience of breathtaking views while you delight in the detailed architecture.

It'll take a few years but I think this area is going to show steep appreciation over the next 5 years and you can get a decent place that'll cash flow a little right now, more if rates drop and you refi and best of all, high appreciation over the next 5-10 years. 

MLS listing and made a full asking price cash offer.

Ultimately I do not want to be over leveraged, stuck paying a high mortgage for extended time, or live in a home that needs work I can’t fund what are your thoughts and recommendations for how I should structure my first purchase?

There are several attractive fixed rate second position cash out options, many with online processes and no appraisal requirements (smaller balances and low LTV's) and fully underwritten options offering up to $500k+ cash out at Prime rate plus 1-2-3% depending on the properties type.

BP also offers a link to connect with local agents to help you find your investment property.