If I go the short-term rental route, I'll be looking at areas within an hour and a half drive of my house, ideally on one of the lakes in the area or White River.

If there is no debt on the property, then you can form an LLC where you are both members with allotted percentages of ownership and a side agreement that details further what the obligations are for each side.

There are definitely good people available there- I'm on there as an agent, BUT they will take anyone with a credit card and a pulse.

I always include a partition waiver (so no one can drag this into court) and a practical exit path: first a right of first refusal (ROFR), then a buy-sell if you can’t agree.

And a 3% interest rate.

I also outline my primary exit (usually a flip with comps to back it up) and a backup exit (rental with DSCR numbers).

I’m trying to pay off my hard money lender with a cash-out refinance on one of the 3 properties, but I’ve been denied by three local credit unions and a bank because my self-employment taxes show low income as i also run a lawn and landscape company as my full time job and it has personal debt from the trucks.

Now that the market is shifting I have been willing to entertain major issues and a few minor one.

This part of town seems to offer more affordable options while still being relatively safe and convenient for students.The goal is to:Provide housing for our daughter and her friends starting January 2026 (spring semester).Structure the purchase as a primary residence, so we can qualify for better mortgage terms.Include myself, my husband, and my daughter on the mortgage application to strengthen our position and meet the owner-occupied requirement.Convert the property to a full rental down the road once she graduates.We think the $30,000 should cover a 5–10% down payment plus closing costs under the primary residence structure, and the property would serve as both a short-term housing solution and a long-term investment.Would love advice from the community on:Does this sound like a smart way to combine student housing with a first-time real estate investment?

Ran it through the usual Google machine and a paid chat gpt and both said i should already be paid off and entitled a refund .