For your property to perform well, I would want it to rent for around $1800 a month to cover expenses and provide some cash flow.

She’s busy as is and I perform all the real estate related items.

But if set up correctly, they can be more consistent performers over time and have more predictable cash flow. 

However, you will have PMI for life of loan most likely and there are usually higher premiums to originate FHA loan.

The banks you are speaking with either do not originate conventional loans or the LO simply does not know how to originate them.  

Hi @Sumit B.To start off, Cape Coral does have a 7 day rental minimum, however, this is an ordinance that pre-dates the STR industry and was originally targeting transient housing. 

Make sure you put in your contract with the GC some performance incentives to make sure the renovation is done on a timely manner.

Starting a hard money lending company makes sense to me since I have hundreds of contacts in this business that I've built relationships for years, as well as it aligns with my origination background. 

This venture was originally expected to have a 10 year horizon, with the goal to maximize IRR in that period. 

Compare origination fee and rate mostly.