rates are going to be 10 to 15% with points of 2 to 10 points depending.. then you have to have the money for the infrastructure .. 

@Adedotun Kembi Most lenders will only lend a total of 65-75% on a rental and at much higher interest rates due to the higher risk.

It's important to know what market rents are for what you are analyzing, many properties are super under rented and you have to get them to market rates. 

The letter also states the total non-rent items currently owed by the tenant, such as accumulated late fees or repair charges.Also very important, the tenant states they have no unresolved issues with their current landlord, except as listed in a space provided, and they have no current plans to cancel their lease under the Service Members Civil Relief Act or for any other reason. 

My two partners are willing to pay their share, but they’ve also offered me the option to take over the property completely since the loan is in my name.Here’s my dilemma: If I keep the property and rent it out, I could get around $2,300 in rent, but my mortgage is $3,300 at a 7% interest rate.

LLC's separate your personal assets from your investments and offer you protection from lawsuits related to your property, they can help to establish a more professional image if you plan to expand, and they provide some flexibility on how you are taxed.There are some drawbacks, included fees and administrative work, but it's ultimately best to consider speaking with a CPA to determine the best option for you. 

Year over year we've seen impressive appreciation rates and often times investors are able to re-sell at a profit a year later with minimal to no work.

Owner ended up settling with the tenant, but then we had to threaten to sue our own client to get them to pay our legal fees.- Owner must sign a Hold Harmless to indemnify us against any potential tenant lawsuits relating to the work their contractor is doing.--- Another lawsuit resulted from owner's contractor taking down basement handrail to get supplies down the steps, then they didn't put it back and tenant fell down the stairs.- We also negotiate a reasonable completion date, depending on the Scope Of Work (SOW). --- Who gets all the phone calls and wastes time calming a tenant down because the owner's contractor doesn't show up as scheduled after they took time off from work or a 3 day job takes 3 weeks?

Stessa is not perfect but I like the capability, love the %5 interest rate on my associate account and have found the support honest and effective.  

Check their occupancy, nightly rate and amenities.