Essentially, a joint venture is where an inner circle member and RAD go 50/50 on the purchase of a property, but RAD does all of the market research to find properties, does all the rehab and management, etc.

The substitute of collateral was more of a scenario where you sold for $155K, and instead of paying off the $88K loan in your scenario, those funds stayed at the title company and were used on a cash purchase happening nearby in date. 

Purchase price: $530,000 Cash invested: $100,000 My journey into short-term rentals began after years of investing in long-term properties, but it was a podcast that opened my eyes to the incredible potential returns of STRs.

In 1-2 years you could save enough to purchase a home to house hack.

The best I've seen for STRs is 80LTV on purchase and 75LTV on cash outs. 

Self-proclaimed Section 8 guru's online claim to do the latter and then find Property Managers after they purchase the property in whatever state, but I don't know how real that is. 

Typically starting with a smaller rehab budget of $50K or less (maybe a max of $75K) and avoiding a 1 to 1(or higher) ratio of purchase to rehab costs is recommend when you are first starting out. 

What's the purchase price? 

Find a mentor that can help you through the purchase of your first house hack, and get something you can fix up off market directly from the owner.Use the help of the mentor to find out if it's a good deal and to help you understand if it could work.  

Because for a certain type renter it’s just SO easy to continue renting fully furnished rather than having to spend $20-40k on furniture; come up with a down payment on a house purchase; and or worry about repairs and maintenance.