Example:Mortgage approval up to $600k20% down payment = $120kClosing costs = approx 1.5% $18,000Furniture costs approx $30,000 based on $20 per footv at 1500 sqft homeMoney partner agrees to contribute all necessary cash approx $168,000 to purchase and set up STR. 

I purchased the property with a combination of cash and a HELOC.

The best thing you can do is to find an expert investment specialist agent / broker who can help you narrow down your search and help identify the best neighborhoods that you're looking to invest in to accomplish your goals. 

Remember, success in real estate often hinges on purchasing properties at favorable rates.

I know your post was about direct to seller, but in the multifamily space, if you're looking to purchase bigger deals, anything 100+ units, it's more challenging direct to seller.I would start with sites like Crexi to aggregate data in a specific market, and target what you're trying to buy. # units, time left on debt, how many years held, whatever you're focusing on.We've also had some success using wholesalers to bring us deals.

Q4 2022 was the best time to buy though, for example 3/1 in sunnyvale located next to google office listing for 999k, comp is 2Mil.Recently sold flipped in 95051 has gross profit of half million dollar just for 3/2 setup.Bay Area is the best market for everything for folks with strong business acumen, opportunity is everywhere.These homes are usually purchased long time ago and the current senior owner can't no longer maintain the house, the story is very similar from one to another.

With those details, I am wondering if we should use the equity in our home to purchase an investment property?

I've got a property I want to purchase now.

I will be a first time home buyer in a couple of months and wanted to know if I am going to pay with cash to purchase the home, do I have to have my credit checked?

This is the first time I heard the refinance cost deductions are not spread out via increasing via increasing the basis aka the loan amount/purchase price.