Private money lender question

[Nicholas Ferraro]

Let me preface with the fact that I am very much stuck in analysis paralysis and have not done any deals yet. 

Let’s say I find a deal on a property I’d like to turn into an Airbnb, but this deal is going to require $50k to get set up. The net income would be $2500 per month. 

If I were to use a private money lender for the $50k, and paid it back with a 10% interest only payment for 5 years, would this mean that I have to rely on this property to build up $50k in my bank account in 5 years? 

After the 10% interest my net income would be around 2100 per month or about 25,000 a year. So this would mean that 2 years of income would be gone at the amortization after 5 years. Which I suppose is doable, just seems like a big deal to me.

But if someone can tell me if they’ve had experience doing deals this way I’d like to know how it worked out for you.