Premises must be vacant at the time of closing.

.- Cities like Toronto will levy another tax (Vacant Home tax) equivalent to 1% of the current assessed value of the property if the property is not occupied (rented, owner-occupied, family occupied, all count as occupied)- Land Transfer Tax: while the Province of Ontario charges anywhere between 0.5 - 2% of Land Transfer Tax when your transaction closes, you should expect to pay this amount twice if the property is in the City of Toronto .

A purchase of $209k, $15k rehab, and ARV of $240k doesn't get you any thing back after you factor in all of the closing costs to purchase and to refinance.

Just because the property can close in an LLC with a DSCR loan, does not mean the loan is made to an entity.

Let's use that as an example. 20% down is $43,000 plus lender loan origination fees, closing costs etc is going to push you over $50,000 cash out of pocket.

In the city, closed sales were up 12.6%.

The price you pay for being part of the Disney World spoon-feed of guests is that the barrier to entry for profitable STRs (ones that leverage close to or max LTV) is very, very high.  

At the end of the day, both of these respective vendors/individuals are paid when the deal closes. 

I recently purchased a 2 unit property as owner occupied with one unit already rented out. 3 months after closing, I was laid off due to a restructure at my company, so I decided to rent out the other unit my girlfriend and I planned to live in.

What they care about more is being close to a convention center with easy parking, a workstation, an iron board for last-minute prep, etc.