I heard Brandon talking about how he uses private money, rehabs, refinances, and then transfers the title to his LLC.

I have a few properties and am also a mortgage broker, happy to answer any questions about general investing or financing options.

I rented out two rooms in my house to help offset my mortgage. 

@Ji Yang, I advise reading articles by @Ian Ippolito (also in BiggerPockets) online (google him) about how to vet sponsers and what to look at in a private placement memorandum.

This will still qualify for a residential mortgage and you have a better shot of completely offsetting your entire payment.

I was hasty due to the higher mortgage rates, and it turned out to be a huge mistake.

The question I'm up against is what private money is going for these days for a build with this much room for upside.

So your capital gain when you sell this property will be calculate against your tax basis and not against your mortgage as many investors expect.

We like the short-term rental idea because we could stay at the property ourselves when we want - summer break, spring/winter breaks, etc.Our budget will be right around $1M or less ideally, and we would like a short distance to the ocean.How likely is it that we could find a property as described above and have it cover or come close to covering the mortgage? 

Purchase price: $545,000 Cash invested: $545,000 New Construction Duplex - Beautiful Design and very nice curb appeal. 3 bedrooms 4 bathroom - All bedrooms have private bathrooms.