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.

I've had success turning vacant Florida land into private shooting ranges.

The 2 units that are rented are covering the mortgage so yes there's room to lower the price on the other 2.

Talk to a mortgage broker or lender experienced with LLC-owned properties before transferring ownership.

Second Street is an international mortgage lender actively investing in Costa Rica.

You're going to end up paying a lot more interest on a heloc than a 2nd mortgage, if you intend on holding that debt for more than a couple years. 

With my CFO clients, I generally assume a 35% operating expense margin (which excludes vacancy and mortgage payments) to start with and adjust from there.

Some private lenders will step in and fund.

@Diandre PiercePaying down mortgages is the opposite of scaling.