I am looking to invest out-of-state as a long-term, buy and hold investor in the lower cost, higher cash-flowing markets of the midwest and southeastern US.

It isn’t always the case.Our team will need direction from time to time especially when unexpected expenses come up.Over the years we have witnessed many investors with magical expectations of making millions within a year (My name isn’t David Copperfield) and that just isn’t the case).If you aren’t willing to buy multiple properties and hold them long term, you will mostly likely loose money.I’ll repeat that for everyone :)If you aren’t willing to buy multiple properties and hold long them term, you will mostly likely loose money.

You could possibly do a bridge loan, maybe a 6-12 month term to pull some of the equity and rehab, then sell or refi if you plan to hold.

Use the one that has the better rates, terms, service for your particular deal. 

Current hot water heater is 21 years old in a 2 bed/1bath SFH that is being flipped into a Mid-term rental unit.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Waukegan.

Purchase price: $220,000

Cash invested: $50,000

Duplex with large basement unit

What made you intereste...

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $252,000

Cash invested: $65,000

PP 252k
5/5@ 5.75%
Rehab cost- 20k

ARV 350k-370k

What made you int...

I believe that this strategy not only offers lucrative short-term gains but also provides valuable experience in the real estate market.Additionally, I am enthusiastic about acquiring rental properties as part of a portfolio.

Assisted living, memory center, continuing care, rest home, independent living, ambulatory care are all terms for what you might be looking for. 

Tres - For starters I would recommend you read "Short Term Rental, Long Term Wealth" by Avery Carl; You can find that book right here on BiggerPockets.