Cash invested: $65,000 Sale price: $97,000This property was a very early lesson learned in private mortgage financings for me.

Look for properties where you can add value with smart, targeted renovations rather than going overboard.Financing Strategy: Since you're aware of the leverage risks, keep your financing options flexible and conservative.

My suggestions would be in this order:(a) Determine the type of financing you qualify for - this will short cut the process considerably and save time on investment angles and next steps.

I am wanting to build passive income How did you finance this deal?

My question is, what is the best way to finance more rentals?  

-If your first STR continues to underperform or face seasonal challenges, it may stretch your finances too thin.

Im working on getting a duplex within this month using creative financing.

Higher loan balances we would likely see an opportunity in the future to refinance again due to lower rates so consider a 2-3 year prepayment penalty.Of course if you qualify for Conventional Financing (Fannie/Freddie), there are no prepayment penalties so just calculating out the return of investment timeline on point buy downs.Good luck shopping and let me know if you want to talk further!

Have a few arms due in about 5 years..those I will finance to fixed rate as rates lower. 

Fix and Flip -Requires a minimum down payment of 10% with 100% of the rehab financed.