I would fist run the numbers to see if it is a good deal at the price and everything else, and then I would drive down the streets to see if you see any licensed contractor signs/trucks.

What made you interested in investing in this type of deal?

So are you saying the Mortgage One deal would be the way to go? 

Use your equity without a bank  to get your next deal done. 

You have to come to the table (a future deal) with funds to get the ball rolling.

I don't think siding will really affect your appraisal - it seems to be more of a "does the house have functional siding or not" type deal

Tariffs aren’t gonna be a big deal.

@Iris Olivas Most local banks/credit unions can do this deal with lower fees and potentially rates than brokers.

I normally estimate an additional $5,000 to close.Hopefully this information helps those who are wondering about costs and deal analysis just trying to get started.

There is another STR owner in this community I've talked to, and he's been doing it for 1-2 years and he said it's still been a real pain to deal with.