Anecdotally, I know a lender who has funded several flips that have turned into STRs and he says his client is doing very, very well which actually surprised me.

Therefore, any guidance, tips, or help from this community would be immensely appreciated.

I was part of his self-storage income community for a bit.

You want an accountant that can help you strategize and who is responsive when you want to know the tax consequences of the decisions you are making throughout the year.Good luck in your search.

We have each student have one parent co-sign and responsible parties on the lease.

It depends on the administrator overseeing his mother's 401K account.

Thanks for your response, @Mike Klarman!

And that new investor is going to be able to rent his/her rental at rates way lower than the previous owner could afford to do. 

I hope my abilities will serve me right with real estate investments.I am interested in buy and hold or fix & flip deals of SFH up to $250K.I would be happy to get some tips and start building connections and a local team.I appreciate your help,Chen

The difference in his payment was $14.58...Your main focus should be the closing costs.