Are we talking $100k or $20kNote that the appraisal is based off the work you put into it and won't be based off market comps for a few years so you are really limited pulling out your capital till 5-6 years and the max LTV for a cash out refi is 75% if you are owner occupied and sign another 1 year occupancy agreement

Many jurisdictions prohibit or limit STRs.

DSCR loans are typically best with 6 months seasoning, but there are options for 2 options for 3 months or even no seasoning: 1) to where you can get your costs out (purchase + renovation) as long as that number is at or under 75%, but if any other forced appreciation has happened you are limited to the max of your costs in or 75% of market (which ever is lower) OR 2) no seasoning DSCR loans which candidly come with pretty high points that make them MUCH less appealing. 

You can insure for loss of rent on your insurance policy, but there is usually a time or dollar limit on that & we have known of many instances where the work was not completed before the loss of rent coverage ran out. 

In our local market many areas have extremely limited options for rental properties and units priced appropriately are typically filled quickly.

Hello all,      I am wondering what the pros and cons are to setting up an LLC for purchasing rental properties.

While Limited Lodging is a permissible accessory use to Household Living, it is not permissible unless (i) the unit is the primary tenant's principal residence and (ii) the tenant lives in the unit for more than 6 months.

I'd love to help you get set up here in the Kansas City market.

@Sadie Bond you might want to consider setting up an alert for new listings here: https://www.biggerpockets.com/...

The Ambassador will work with the new Host from starting their page set-up, all the way to their first booking.