I just used cash to build my first 3 specs no loans at all.. once done and sold then I went to lima got one loan from them.. then went to local bank ( much much cheaper) and got a 3 mil  guidance line and went on to build 30 or so in charleston.. you have to prove the model.. its not like buying a rental where lenders look strongly at your fico  fico is required but not the main consideration like and investor loan and all you need is 20% down or 30% down and a few bucks in reserve that wont fly with spec loans..

Do you want this thing to be the tipping point for them to leave and you have turnover costs and a vacant unit? 

I have lots of experience in all types of single-family investing, small partnerships in multifamily and commercial, and a vast knowledge of construction.

STR is a hospitality business first, and a for-profit business second (if you want to succeed).

If I thought for one minute there was a big market for EM deposits and a reliable bevy of potential clients I would be all over funding 7 figures .. but even with all my experience in lending I jsut dont see it  personally and maybe I am blind to it but I close a lot of deals for wholesalers 10 to 20 each and every month for years..

These are professionals with additional training and a stricter code of ethics.

There’s a smaller hospital nearby and a large one the city up but I don’t think the nearby ones cover the point you’re making.

. - 1/1 and a 3/2 instead of 2/1 and 2/1)2.

For family life, there are great communities with good schools and a lot of kid-friendly activities.

If you're a single mom with student loans, a car payment, and living paycheck-to-paycheck, then $20,000 would be devastating and a reserve is critical.