I'd personally think on lifestyle desires, plans in the next few years, etc when asking myself if this sort of thing is a right decision.

They look at factors like how old he will be when the loan is matured, whether you are healthy or not, the value of a collateral, or how long he has been working at a company etc. 

Would it require you to change your lifestyle? 

Thanks for the help last week.Re-posting from Brandon & David's "ask me anything," because I thought it would be fun to start some healthy debate.

Now, I'll be honest with you all – there's a healthy dose of nerves coursing through my veins as I step into this arena.

One rental property won't make you rich fast, but unlocking your career and lifestyle might through a new opportunity.

It also can get challenging to set a price now to possibly buy in the future that the owner and you will feel is fair (with markets still appreciating at a healthy pace).You can also keep your eyes open for a seller willing and able to do a land contract with you (but there usually would want much more money down and likely want a full pay off in a few years, but can see what you can negotiate on terms).I agree nothing illegal about options/option fees in WI to my knowledge, but generally seem much less frequently used in single residential transactions than commercial transactions where due diligence and closing timelines may be very drawn out.

My suggestion, is you visit all these potential locations with your family, and see which area calls to you, which areas you can see yourself enjoying, and allow the STR/MTR strategy take the second seat to your enjoyment and lifestyle vision for you and your family.

Two very different lifestyles and if you're an outdoorsy kind of person, you're going to regret moving to Phila. 

As part of our retirement/less active lifestyle planning we are planning to start purchasing STR properties in 2023.