My goal is to cover monthly housing expenses and then eventually to cover cost of living expenses beyond that by purchasing a few mid term rental properties.

STRs require a lot more cash up front so you just want to make sure you have a good idea of what you're getting into first :) I own STRs and love it but I also wish I had learned a little more about the analysis and management prior to going live - I did some of that on the back end and could have been successful faster.Another idea is to talk with some owners 1:1 to see what advice they would have for someone starting out.

@Suzy Farman my market is so hot I typically only need 2-3 weeks because many people are either living with family or already have a replacement tenant ready for their current unit upon move out.

I have living arrangements covered so I can rent out the 3 bed when I'm done.

It helps you get into real estate with minimal down and allows you to reduce your living expenses.

*I do not wish to trick my employer or any financial institution, I simply want to take advantage of the 5% multifamily down-payment and flexibility of my corporate job. you need to notify your employer where you are living and adjust your employer taxes as well as each state has different employee/employer laws and benefits.Regarding marking remote or wisconsin, not sure where that comes into play.

The ARV still looks REALLY good with purchase price, rehab and potential fair market rents......BUT I live in Florida and need a COMPLETE team to be successful if I was to purchase this property....which brings me to you guys!!!

While you can’t completely control who applies to live in your properties, you most definitely can find areas that are popular with students, young professionals, families, etc. 4) just as important as finding the property, you need to have an exit strategy in mind for the property.

But if you decide one day that you want to reduce down to 2 roommates having a floor plan with a separate entrance or something with a separate living room that you can minimize common spaces you may be able to live with that arangement more comfortably for longer. 

Business owners looking for storage or car fanatic looking to securely store their "toys"How did you find this deal and how did you negotiate it?