Blaxktip is in serious trouble with a warrant just about to be issued for contempt of court.A garnishment of his bank account happened the other day wiping out his Chase bank account balance.  

+I've researched something called an FHA Construction loan in terms of financing this project, but it seems that most large banks don't offer that product.

The seller becomes the bank and pays capital gains one time on the downpayment (which keeps it low to make sense for them) and then also monthly on the payments (also incentivized to just match how much he wants a month).

Here are some articles to review in the meantime:1. https://www.padsplit.com/host-resources/news/how-affordable-...2. https://www.padsplit.com/host-resources/news/why-padsplit-is...

I've also heard it can be a good thing to have some debt against a property because if any issues arise legally, the bank will be the first line of defense. 

There are a host of problems down the road that can happen from doing this.4.

If you arent laughing all the way to the bank then its not a good starter deal.

You may have to put more money down (10-15%), but you can close, in a LLC, with no worries about banks.

We have had hosts on the platform since then that are continuing to do well and add units.

I have 4 STRs including 2 for 25 years and I consulted the co-host for local cost estimates.