Andre - 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. 

I've recently gotten really interested in real estate after looking at possible ways to generate long term wealth. 

You might not want the business there long term and find a better spot and then can you rent it out and cash flow for what you are purchasing it today for?

Hey @Jonathan Snider, well the biggest downside for me is there is zero value in those domes/yurts in the long term.

I recently became interested in REI after I found out one of my bosses at work has been doing long distance investing in multi family homes. 

Primarily interested in long distance markets due to prices in my area (San Diego/California).At a stage where I am evaluating my savings versus the upfront costs to get into a STR property.

This will likely determine whether short/mid/long term rentals are favorable in that specific area. 5) there’s so many things!

If it's an FHA loan, the lender cannot foreclose as long as the borrower is living there and up on the taxes, insurance, HOA, and property condition.

You can explain to your potential new partner that he will make an extra amount on each deal through his realtor commission which will help increase his profit.If possible make a deal that both of you are happy with because finding quality people to work with is a key to being successful long term.

Ok your responses are from lenders that want to make money lending HM.HM is basically not appropriate for any kind of longer term hold  ONLY fix and flip and only if you really know what your doing.I would be very cautious borrowing money..better set up for you and safety is going to be a JV deal.. where the PL is your equity partner and is in it long term with you if its rentals you want to start to acquire.