I used a hard money loan for the bulk of it because, let’s be real, no bank was touching this place with a ten-foot pole.

Using an insurance and bank loan product, putting $500,000 each year for 10 years so your family gets $2mm tax free each year forever.  

Also, why pay 3 times the price of a house to the bank?

But the answer for everyone may differ.Here are the personal attributes I see in those able to achieve a higher than market ROI, enough higher to be able to “scale”.1- Knowledge of real estate principles, real estate law and real estate finance2- Minimum 3 -5 years full time, or near full time experience directly related to real estate investing3- Ability to utilize technology for increased efficiency, capacity, and accuracy4- Excellent hired legal counsel and excellent hired marketing help5- Established method(s) of obtaining consistently high QUALITY deal flow6- Ability to manage and choose people who are NOT employees: Attorneys, Appraisers, Mortgage Brokers, Real Estate Brokers, Title Companies, Surveyors, Marketing Specialists, Accountants, Contractors, Consultants, Property Managers7- A VERIFIABLE track record of success8- Ability to identify, analyze, and negotiate a deal that can be “worked” for “enhanced” ROI9- Some type of competitive advantage; for example for me it’s my ability to analyze and identify mortgage loans that are actually less risky than all other lenders believe (on the investing in debt side), and on the real property side it’s my ability to analyze”pull the trigger” with LESS information than other investors need,  combined with the ability to pay cash, or raise significant capital almost instantly as well as being able to obtain loans at the lowest prime customer bank rate with no recourse or personal liability.  

But for you I would definitely leverage the banks money as much as you can and just keep money on the side for reserves.

What does my purchase price and down payment need to look like for the bank to provide financing? 

I also liked that they are US based as I had issues with my bank with the Finland based Hostaway.Finally, I highly recommend PriceLabs.

It may create a problem for you later if your bank discovers the account is owned by an LLC that no longer exists.

Quote from @Jamie Banks: Here's a few things I include in my MTR lease- Utility caps- Outline of the furniture that is included- Details regarding which utilities are included- Outline who is responsible for lawn care / snow removal- List of fees (admin fee, cleaning fee, etc) Hi Jamie! 

Go work with community banks, regional banks, and local credit unions.