I also use business lines of credit from banks, but for this banks definitely want to see revenue (usually 5-10x the amount of a mine they will give you).It is important to remember though that just because these lines and CCs are not immediately reported on your personal credit report, if you miss payments or default you are personally liable and the debtors will add it to your personal credit report.

@Nathan BrooksI am not local to Richmond, but have several clients who work in that market.Welcome to the community and be ready for a huge amount of information at your finger tips.

From using the Airbtics app it seems there are a decent amount of STR's in the Jacksonville urban core, where houses are pretty affordable, and that these have good occupancy rates. 

I mention this as I have seen some people want to sue companies because they were a sponsored affiliate on a website…Regarding the original post- expect 10-12% (I think latest I saw is avg is 11.5%) rate plus atleast one point for a 12 month loan.Bigger companies may take longer for approval and can be more flexible usually in down payment amounts.

Just in the last 2 years, PadSplit has doubled the amount of units on the platform thanks to hosts like you. 

I would look for a bunch of Sub To Deals with 2-3% interest rates ...... then rent out for cash flow and huge equity build up when rates are really low (check out amortization schedules and compare 2-3% vs 6-7% with the same balance and length of time - check out the principal portion each month - the lower the rate the higher amount goes to principal PLUS better cash flow).

Research sold properties to see if the #s would make sense given your projected down payment amount.

My idea to buy a home is to get an 80% LTV 1st mortgage from a bank, take over that mortgage and give the seller a second mortgage for 50% of the 1st mortgage balance because I need some cash to cover the payments, which the amount of cash would be more than the remaining equity in the home.

I did this in the MS market and while the advantages you pointed out were true.. markets that have slow appreciation and or areas where builders can keep building for low dollar amounts like the mid west.

If we find damages, we withhold the necessary amount from the security deposit to cover repair or replacement costs.