That way you can use that 2% to do a rate buy down to ensure a better cash flow.If you are buying it as a Primary owner occupancy I would ask for 3-4% seller credit to cover rate buy down and a portion of closing costs.

Those costs to both shut down the biz to upgrade/replace and the cost of doing the work are huge capital costs. 

We are going to touch base in a day or two.I have run the numbers on the Brrrr calculator, but have ZERO confidence that my guesstimate about rehab costs are accurate.

If you're concerned about closing costs, you can place your offers requesting the seller to cover your costs.   

However the rates are nowhere your numbers :)I have cash saved to put 25% down plus closing cost.

Sure, there will be some costs (i.e. monthly rent, furniture, etc) but this may be cheaper than sinking money into buying a property thinking you'll do well in STR ,only to find out that you aren't cash flowing and now you can't sell the property for a profit.What I do recommend is the following:1.

Costs are adding up really fast.I work with a third party company that tries to get the best deals from various insurances they work with but Im noticing premiums are increasing with each new policy I add.

@Vincent BerggrenHouse hacking is a great way to start investing in real estate and lower your living costs.

I’ve found that a renovation to add a DADU wasn’t cost effective in my market.

I am estimating a build cost of around $200k - $250k on the high end due to the savings we will be getting from my FIL and our labor.