As consecutive Mac Conway Award Winners for Excellence recipients, Montgomery is well positioned through their "Imagine a Greater Montgomery" initiative to re-shape the city vision.

As far as your bridge loan goes, most lenders don't love being in second position. 

You'll end up with a dog that you can't unload at the end of the day when you've dumped thousands of dollars into it with no positive return. 

It is important that I not only pursue the American dream, but do so with an upbeat attitude and stay positively motivated.

And in a few months, you will be in a good position to crank up your cash flow.We start advertising 4 months before the next school cycle with hopes of having signed leases and deposits at least 2-3 months before they move in. 

But always keep your core values front and center.I’m curious... now that you’ve got this momentum, what’s the next step you’re considering to deepen those relationships and keep the positive energy flowing?

Im just now realizing our potential with the first investment and had no idea what a great position it put us in to move forward.

Once that phase is complete, I’d transition back into long-term holds.As for the cash-out refi, without at least doubling the rent, I’d be in a net-negative position each month, which doesn’t seem like a worthwhile trade-off.On the tenant side, I agree with your point about the business aspect—it’s something I’m working on coming to terms with.

Typically speaking 20% down (80% LTV) is the bare minimum that commercial lending requires.  10% down is unheard of unless you are getting a great deal and negotiate some small seller financing in second position or getting an SBA Loan for acquisition where your business will occupy over 51% of. 

However, what I've learned is that for the most part, if most of your bookings are with guests that have a positive history (Airbnb/VRBO), your rates are competitive (to possibly slightly higher because you stand out, offer more, etc.), and you've made your House Rules clear, then don't sweat the small stuff.By that, I mean- you'll have guests who have 5-star ratings but can still leave a mess or damage (other owners didn't report accurately or it was complicated) but you have recourse via photo evidence (your cleaners, etc.) to ask for reimbursement (or use something like AirCover, etc.).