Considering a HELOC for that land down payment is a solid move with 70K in equity, offering flexibility and potential tax perks.

If anyone is tired of potential damage by hurricanes or fires, have them call me.  

Establish an LLC to cover any potential lawsuits.

So, here's my question: How would you acquire money to buy a home as a temporary residence, potentially flip, or rent out and add to your portfolio?

Rehab cost can potentially be lower. 

Acquiring homes that have ADU potential.

In the end, unless you're hiring an outside management company, it's something that will take up time and energy from your day to day.

If you do go this route, make sure you thoroughly vet out your potential partner and have a solid agreement in place to protect both of you. 

I feel like we may be in a favorable position to leverage this home and potentially begin a real estate portfolio and/or generate income, but that's merely a guess on my part.

@Yulia Orlov..while I can understand your concern and comfort as a potential borrower, DSCR loans really come down to metrics so a lender needing to understand your local or hyperlocal market is irrelevant.