There are very few lenders that provide these specialized loans, limiting your choices and potentially adding extra complications to the loan application process.7.

There are several critical factors and potential risks you should consider to ensure a more comprehensive approach.Regarding your math, it seems well-considered, incorporating key elements like repair costs, After Repair Value (ARV), and projected rental income.

They say STRs are dangerous and increase crime, which doesn't really explain why you wouldn't want someone to rent for 5 months.

Without credit information, how can I handle potential issues like unpaid utility bills?

If you buy in unknown locations, no matter how good the numbers look on paper, you should have a very large cash reserve to deal with all the potential problems. 

This arrangement not only compensates the agent fairly for their services but also serves as a motivating factor for them to prioritize you for future off-market deals, potentially giving you an edge in the competitive real estate market.When it comes to selecting a proficient lender, I have employed several effective strategies through my experience.

And the entire time I'm really buckling down and saying "no" to potentially fun activities so that I can continue to dutifully save my $250k.A W-2 job will not make you rich.

There are free tools online everywhere, but basically you want to do the following:Gross Potential IncomeLess Vacancy= Gross IncomeSubtract the following expenses:Real Estate TaxesHazard InsuranceLiability InsuranceMaintenance (yes, even if you plan to DIY)SuppliesProperty Management (yes, even if you plan to DIY)UtilitiesLawncare/Snow removalLegal Costs (evictions, LLC formation/maintenance)Bad Debt (non-paying residents)City Occupancy LicensesPayment processing fees (for debit/credit cards)This will get your Net Operating Income.Then subtract debt service. 1st mortgage2nd mortgage (if applies)Line of Credit (if applies)This leaves you your free cash flow.

@Colin Flynn MTR’s can work here but there are some potential limitations.

Once you've identified potential properties, schedule tours to assess them in person and address any queries.