Lenders want to see two years of stable income before they loan money to you.

To analyze deals efficiently, focus on key metrics like cash flow, cap rate, and expense ratios—make sure rental income covers mortgage, taxes, insurance, and maintenance while hitting your 6% cap rate target.

What have you found is worth the money and what isn’t?

If you feel bad and want to save people money, start with a free pre-screening.

Are you able to close the transaction (have enough money (and/or credit) ?

It is NOT a 'pay your money, here's your course and see you later' situation.This is a group of likeminded individuals that are all working towards the same goal and are happy to help each other grow and make it too.

Did you borrow money from a local bank/credit union for the remainder of the purchase price or did the funds from your 1031 cover all of it? 

Taxes 10k HOA is 9k The current owner never did short-term rentals.

Alternatively, I could explore hard money lenders.

This would be in central Jersey which is still a hot market as a result of record low inventory.I am planning to do this strategy since I want to put low money down (10%) on a construction loan and achieve a quick build to lower my holding fees.