I would not recommend this to a new investor or who is not from the area.

Take those things into consideration as you take on the challenge and call a property manager if you get in over your head.HOWEVER, deciding to use a property manager in the beginning when screening the right tenant, (we call them Residents), highly increases you likelihood of success as a CASHFLOWING investor. 

On the positive side, there are actively STR licensed and listed properties that could seamlessly transition to new investors. 

This property was very enticing to my investor as the possibilities of a full 3rd story addition would make this one of the largest homes in the area.

They are typically structured with a short-term interest-only period during construction, followed by conversion to a permanent mortgage upon completion of the project.CMBS Loans (Commercial Mortgage-Backed Securities): CMBS loans are commercial real estate loans pooled together and securitized into bonds, which are then sold to investors.

New investor here, and I have heard that wholesaling is a great way to start.

**Realtor Referrals:** Lastly, I'm in search of reputable realtors in the area who have experience working with investors like myself.

The property is located north of Albany, NY.I purchased a property at a tax sale, received a quitclaim deed from the county, and have been marketing it to investors. 

There are exceptions, and some investors have succeeded with Airbnb style rentals in Santa Fe that can be very lucrative when rented consistently.

I am a rookie investor looking to learn more and possibly pursue a deal in the Melbourne Florida area.