And it minimizes theft.  

@Yamil NafRaising $160,000 for your short-term rental (STR) venture is a great goal, and there are several ways to structure the deal to minimize your upfront costs while attracting investors.

I also filled out the contract to minimize the fee, and we reviewed it together.

The best thing about a new build is the capital expenses and maintenance and repairs will be minimal for many years.  

I would buy a deal that at least minimally cashflows (they exist) and then plan to refi in the 18-36 month window.

To minimize upfront costs, explore down payment assistance programs, creative financing strategies like seller financing, or rent-to-own agreements. 

If maintaining strong cash flow and minimizing risk are more important, Option 1 is the safer choice.Good luck! 

. - PM charges minimal fees.- PM is contractually obligated to perform annual maintenance/inspection to keep property in top shape. - PM provides a cash based accounting report every month, for every unit under management, that clearly labels all rent, all expenses, including management fees, and the net directly ties to the amount of money deposited into my bank account.- PM is a licensed handyman, or has them on staff, and takes care of most unit turn work at a reasonable rate. - PM has no breakup/termination fee- PM does not take project management fees, except on large or complicated CapEx projects exceeding $5,000. 

In the one house that I still have some existing, it's only on an overhead light circuit with no insulation around it, and I minimize the load on the circuit by using only low voltage LED lights. 

I have had inspectors look at rooms on renovations that were not permitted (we weren't even doing work in the rooms) and asked that certain changes to be made to bring the room up to code (it was minimal).