If it’s for a Fix & Flip, most lenders typically require you to have a signed contract with a local general contractor if you’re investing out of state.If you’re considering a DSCR Loan, you’re generally okay to purchase a rent-ready property, though some lenders may ask for a property management agreement to be in place.The right lender often depends on the type of deal you’re pursuing, but you can work with lenders based either in your home state or the state you're investing in, as long as they operate in both. 

Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

RentReady timeline depends on:- Scope of Work- Owner approval- Owner Funding- Maintenance staff queueNo matter where in the process, your PMC should be communicating so you are clear about process & where your property is in that process.Filling Vacancy depends on the market, but the national average is near 50 days. 

@Andy Horobec, I think the co-living situation is great for some & indifferent for others that depend on the situation.In general, I'd always ensure that any potential property consider still meets the general criteria for what you consider is a deal as if you were renting it out as a regular SFH.Many people got caught up with this in regards to AirBnB, then I feel like oversaturated the market.

Hey @Alli Stencil - Good question — the right move really depends on your financial situation, credit, and long-term goals.

The decision between buying a true investment property vs. a second home with STR income depends a lot on how you plan to use it—and how much you want the IRS involved in that definition.Here’s a quick breakdown to help you compare: Option 1: Second Home w/ STR IncomeYou stay in the property personally (including friends/family time).You can still rent it out, but personal use impacts tax deductions.If you use it more than 14 days OR more than 10% of total rental days, it’s considered a personal residence with rental activity under IRS rules.Pros:May qualify for second home mortgage rates (usually lower than investment)You get personal use flexibilityCons:Rental-related expenses must be prorated based on personal useLess tax write-off potential (can’t take passive loss deductions unless it qualifies as a business) Option 2: Pure Investment Property (STR Business)You limit or eliminate personal use.The property is treated as a rental business under the IRS.You can write off:DepreciationManagement feesTravel to inspect/manageSupplies, repairs, and morePros:More robust tax benefitsClearer cash flow analysisEasier to grow into multiple unitsCons:No personal use flexibility without triggering IRS reclassificationOften comes with slightly higher lending rates or down payment requirements Where to Start:Talk to a STR-friendly CPA – This is huge.

Depends on how bad it is and whether or not the numbers make sense.

@Isaiah Hall this is going to depend on your persona financial situation and they type of deal. 

Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.