1st BRRRR in New Orleans

[Charlotte B.]

Been wanting to invest in real estate for years and just purchased my first property. The property has two houses on the lot (a big house and a carriage house). My plan is to either renovate and flip or do a short-term rental. I'll live in the carriage house in order to get the homestead exception (already checked out the STR permit and zoning). It's a great location for tourists and on the parade route.

Purchase price: $730k
Appraised value: $770k
Renovation costs: $350k
Est. post-renovation value: $1.4m
Annual STR AirDNA estimate: $106k/year

I'm currently exploring options for help financing some of the renovations. I have cash to cover some but not all. Any suggestions for financing a renovation like this?