Purchase price: $102,000 Cash invested: $30,000 This single family home short term rental conversion was by far the toughest yet.

Purchase price: $102,000 Cash invested: $30,000 This single family home short term rental conversion was by far the toughest yet.

For close in neighborhood demographics, go to a few of the local Grocery stores and sit in the parking lot Friday night after dark, Saturday morning, and Sunday afternoon.Look at the people, and how they are dressed, look at their cars and trucks--guess their income level.

They buy a SFH if the market crashes, or when our growing family requires it.   2) Buy a single unit for ourselves (condo or townhome) and plan to keep it as a rental when we buy a bigger home down the roadI have had a few conversations with realtors and gotten some wild variations in advice.  

Do you buy find better deals at Home Depot/Lowe’s or does anyone have online wholesale store they recommend.

@Nathaniel Williams it is not a bad idea to get the conversation going and find the person you will use, though I believe you can wait to use that CPA until you land your first rental property.

You might find them online - I doubt you’ll find them in the stores right now or even ask around and borrow some for the short term until you find a better solution.

Thanks, that seems like a pretty simple conversation to have and a good way to approach it.

No other stores in the area!  

Like other said escrow account is a good alternative to protect you from commingling or conversion of funds.