Quote from @Matt Wan: Can I purchase a property using a traditional mortgage without being physically present for any part of the process?

Also, if you were in our position, what questions should we be asking the lenders to make sure it is a good fit?

If so, invest.Then, ask yourself does this property provide the characteristics you need for it to give you your return-- location, rental demand, buying demand, physical structure, etc.

I was just hoping to transition it into LTR and since we have newer furniture that fits the space well, it just seemed a shame to sell it all to do an unfurnished LTR, but again, I'm having a hard time understanding how logistically some of the details are worked out with that with furniture involved in an LTR.Thank you again for the support!

You'll be tagging transactions throughout the year with categories that fit the Schedule E so when tax time comes (if you stay on top of it) every deposit and expenditure will already be categorized and it's quick to create the Schedule E and/or run P&L reports any time you need to.

I am not quite sure what category I fit into since I’m not a completely foreign investor, but I also don’t have a W2 or current residency in the US.Curious if any Lenders here have advice on how to seek financing.

An out of state investment didn’t feel like the right fit for us either.

So I feel it's not a fit for everyone.

Just so you know you can use a USPS PO Box as a physical street address now and receive UPS and Fedex there also. https://ribbs.usps.gov/index.cfm?

I see some larger single family homes in areas that appear to be zoned R2 that, at least from a physical perspective, seem like they could work for this.