If anyone has any tips or tricks to a first-timer, feel free to leave a reply (especially curious about standard practices for identifying deals).

It was a dream purchase for me and my wife, but after joining Bigger Pockets and all the great folks on here helped my move into the STR game.We ended up with a standard 2nd home mortgage that was almost immediately transferred so we just started listing it on VRBO and AirBNB.

VA property standards will apply here, and commercial real estate tends to be more beat up than residential in general, and on top of that high vacancy real estate is also almost always beat up real estate that has been poorly managed and maintained for several years.

Many DSCR loans come with standard 2-3-5 year Pre Payment Penalties, borrowers usually have the option to 'buy out' of these penalties upfront with points or by accepting a higher interest rate.

As for marketing Furnished Finders is the gold standard for MTR. 

They don't want to add other homes that are to the same standard or material. 

Rates and terms vary widely based on the relationship and agreement between the lender and borrower.Comparison:Interest Rates and Fees: Both can be high, but private money might offer more favorable terms if you have a good relationship with the lender.Approval and Flexibility: Private money can be more flexible and tailored to your needs, while hard money has standardized criteria.Source: Hard money comes from companies; private money comes from individuals.Your business partner’s model has worked well, but diversifying your financing sources is smart.

I'll show you one quick example that proves that PUP is better than LLC in a standard case.Take for instance you have a 500K property completely paid off. 

I like Dayton or Columbus more because they have more going for them across the board, but doubt you can find a quality multi up to your standards at $150K in those areas.

Unless there are multiple leans against the property, multiple entity's attached to the title, or there needs to be a new title and survey ordered by the attorney's, 60 days is standard.