Here’s what I recommend instead:Offer Value Beyond Price: Rather than just lowering your rates, focus on adding value to the guest experience.

Lastly, they’re going to want a higher interest rate than they can get from the bank for taking the risk.

CA has the highest sales tax rate in the country.

There are other suburbs that you may be able to do it in but its not going to have the booking rate you're looking for.

The property will be strictly for investment purposes, not a primary residence.I’ve been looking into two potential financing options:Hard Money Lenders (HML) – I’m drawn to this option for its speed in closing, but I know the rates can be higher.DSCR Loans – This seems like a great option for long-term rentals, but I’m unsure if it’s the right fit for my auction property since it might need some rehabbing.I’m also considering purchasing through a land trust or an LLC to add a layer of protection and privacy.So, my questions are:What’s the best way to approach financing for auction properties?

What they will offer you is an appliance package, or closing cost help, or a low fixed rate loan. 

You could bring less down and possibly have a lower interest rate since you will be living there.

Here’s the bottom line; unless the deal is VERY large, or the sponsor is going to syndicate a large number of deals, the investor will make more money purchasing the property theirselves with a option low to moderate interest rate loan.  

high interest rates have hurt cash flow and long term rentals are still a great investment... they're just not going to throw off rental income in the first few years of ownership.

Unsecured personal debt is often from institutional sources, but at rates of 9-20%, fully amortized over 3, 5, or 7 year terms (not interest only).