Hi Melanie, I both own and manage in the area and to be honest, the market in Kissimmee/Davenport is tough right now unless you're willing to invest a lot of capital into high end theming. 

@Chris Shon Hiring a real estate-focused tax accountant can be highly beneficial, especially if you’re new to navigating the complexities of real estate investments and LLC filings.

I am in Florida and we have a strong STR market and most of my buyers bought at high rates and using AirDNA we were pretty spot on for the numbers and we were successful in being profitable.  

Low cost + high rent/value ratio.My market of Middle TN doesn't have any livable property for that price and the 1% rule isn't very realistic. 

Many of these lenders allowing 2nds behind them are more expensive capital (10's - 13's in our current market [high rates - but now showing signs of coming down]).

But presuming you are talking about doing the above, this is a high risk strategy.

If the proposed loan is too risky because (1) chance of default is too high and or (2) cost of foreclosing too high or time it takes too long and we would otherwise decline the loan, we might offer to purchase the subject property for a price equal to the loan amount.  

The seller is highly motivated to sell and has already knocked their price down 6% since listing it 4 months ago.

I highly doubt I will ever see my money again.

Well, I wouldn’t go that far, people throw that word around too much these days but I would say they made a lot of promises that they haven’t kept and paint a very unrealistic picture with an extremely high pressure sales scheme that does a disservice to the vast majority of their students.