The banker said we would have to start with a traditional construction loan.  

Finally something to think about, for some areas, if traditional travel is low, or sometimes to not be required to get conditional use permits (know your state laws), you can market to travelers who are longer term stayers… such as traveling nurses, corporate execs, pilots, etc. 

Choosing the best vacation rental loan option: Traditional/Conventional vs Non Conventional/NonQM.

Quote from @Rodney Menendez: @Peter Dukaj yes we are still finding lots for around $19k in Lehigh Acres with no issues for construction  still a soft market and utilities are going to run way more than public sewer and water taps. it all ends up being the same. 40-50k for a lot no matter how you skin the cat. plus all the site work required for those lots is more than double what a traditional infill lot requires in miami or columbus for example 

We went for a traditional bank loan and used the equity we had immediately in the property to finance our second home, which we currently live in, but are turning into a rental property.

Traditional agents rely heavily on MLS listings, which is why you're not finding the numbers you're looking for.I've been doing this for 20 years, and trust me, it's worth spending more time finding the right specialist rather than focusing solely on properties.

The terms may also be not as competitive compared to a traditional institutional hard money loan, since there is more risk and less funding readily available from individual private money lenders.

With the goal of maxing out all 10 of my traditional 30 year fixed mortgages.

I've traditionally relied on an Excel sheet, but it's not always convenient when I'm away from my computer.I recently came across an online calculator that seems to provide detailed metrics, including Cap Rate, IRR, and others.

Traditional financing How did you add value to the deal?