It almost feels like they make it difficult on purpose so they get extra revenue on late fees.

I know it seems like a tough task, but can you spend a few more months or a year while you continue to learn to really tighten the budget or find ways to earn a little extra to start from a stronger position?

Knowledge is power:Thorough Inspections: Minimize surprises with detailed inspections and due diligence.Strong Screening: Careful tenant selection reduces vacancy and headaches.Diversification: Spread your investments across different locations and property types to mitigate risk.Financial Planning: Maintain a buffer and choose financing options that fit your long-term goals.

@Andrew HolmesThank you for such detailed answer there.

Otherwise perhaps your winter people will pay $500 extra if your cap is $500 and that is not what your competitors will be doing. 

I'm going to need a few more details.

Since you’re planning a mix of long-term and short-term rentals, keeping detailed records and setting up a solid system for managing finances early on will be key.

CPA's should be more careful on details.

You can carve into the details a bit more with a specific broker and products.

@John Cooper when you or someone you care about is living in the home it is important to be extra vigilant in choosing tenants.