And buying the other one with maximum leverage.This can be especially beneficial to you if the short-term rental you want to buy is positioned such that you could take advantage of a 2nd home loan. 

Last, issue a written non renewal notice 60 - 90 days before the end of their term and provide a legitimate reason.

Typically the terms on these loans are 3-5 years and require at least 50% down

In terms of qualifying income, lenders will use 80% of business deposits and 100% of personal deposits and use your full W2 Income.

You are looking to expand your portfolio: A 1031 exchange allows you to invest in larger properties or multiple properties.You have a long-term investment horizon: The tax deferral from a 1031 exchange can have a large snowball effect.

However, it's essential to research local development plans, infrastructure projects, and employment trends to gauge the area's long-term growth potential.

@Marissa SladeIn terms of areas to check out in Cleveland, I would take a look at areas on the West Side of Cleveland like West Blvd, Cudell, Old Brooklyn, Clark Fulton, Edgewater, Jefferson, and Brooklyn Centre.

In long term I may settle for hybrid or something like only taking 50k loans, syndication, accelerated depreciation (assuming bonus depreciation doesnt go away) , pay back and repeat. 

But in looking at HI I'd be careful of three things.1. new legislation prohibiting or severely restricting short term rentals in the works.2.

Lately, I've been contemplating the idea of venturing into the short-term rental market and I'm considering whether converting this property could be a good start.