I'd say the #1 most important next step is to get a contractor that you can trust, because you just really can't see the finer details through facetime/video/pictures. 

He moved in October 2023 and began missing payments in December and hasn't paid most of January.

They key to succeeding in these midwest markets is putting together a trusted team to find properties, do rehab and property management.

Can anyone recommend a Mississippi real estate attorney whom you trust?

We want to begin the journey this year but will likely have ~40k for a down payment.

If you look back at all of the discussions here about AirDna, you will find that most STR investors do not trust it's accuracy.

it opens up loan options with a lower down payment.

Hey Abe, one thing I would mention is to consider what down payment would be required with the lender you work with.

I will DM you a guys I trust to help you out.

Hi Arshiya,Typically a Hard Money Lender will look at your:Down Payment (assets/liquidity to put into down payment) - 20-30% for first time investorsProperty value and After Repair ValueRehab Plan and Timeline - detailed rehab plan with realistic timeline and budgetExperience - not necessary but helpsFinancial Strength - credit score, track recordsExit Strategy - how you plan to pay the loan off