I would check with Dennis Kahn at Homestead Mortgage or another popular mortgage broker here, Zach Starnes or there are several other lenders that can re-fi off appraised value much sooner than 1 yr.

Many investors have had to get creative by emphasizing other property perks, like pools, proximity to local attractions, or unique experiences, to offset any beach access challenges. 

Purchase price: $2,800,000 Cash invested: $560,000 The property is a three-story multi-family residential building with six independent units, initially facing significant challenges due to poor conditions.Renovation Investment Summary:- **Structural Repairs:** $250,000- **Kitchen Modernization:** $100,000- **Bathroom Updates:** $50,000- **Exterior Improvements:** $100,000- **Holding Costs:** $50,000- **Property Taxes:** $30,000- **Insurance Costs:** $10,000- **Management Services:** $10,000

This is true, but can increase your chances of success by working with an experienced team.Financing Challenges: Unexpected rate hikes or tightening lending restrictions can complicate your plans. 

It’s not always easy, but each challenge has taught me something new.

There's no one size fits all of course, but generally the STR/MTR/LTR mix in a multi-family unit can be challenging because the way renters utilize these properties is so different.

Hey @Dan ErmolovichSorry to hear you’re facing this challenge...evictions are one of the tougher aspects of real estate investing, and being out of state adds to the difficulty.

Subsidized Housing and Section 8:You’re right that Section 8 and subsidized housing present economic challenges for landlords, which is why so many avoid it.

They also hide their markups3) Biggest challenge with owners & maintenance, is owners think everything "takes only 5 minutes".

This poses an additional challenge for new RE investors.