OR... if that EXISTS... then WHERE ARE those add- ons!?)

I’d love to hear if your biggest home runs have been from: a) buying an existing STR, tweaking it with your own unique skill set and applying your experience-proven enhancements to be a top performing property, orb) converting a previously non-rental property into an STR?

The property I am looking at has equity and only a purchase money loan (1st mortgage).I understand the basics, Wining the bid, gets me the deed subject to the existing loan. 

One way to cut costs on a rehab is to leave the existing floor and roof in place and just put the new materials on top of them.

It exists, however the max CLTV for most is 65% not 70%. 

This is an existing tenant, no tenant search required, literally just the legal process of negotiating a new lease and signing it.  

For example, after running comparables, I found that a property's estimated value is $580,000.00, and they have an existing mortgage of $420,000.

Yes, I think, like a lot of topics that get passed around real estate circles (like 0 down physician loans...which I have never ever seen one actually close haha) there are these mythical products that people don't realize may only exist at one small bank in one small corner of the country and not actually be available to most.

However, the fact that it was an existing structure with utilities and plumbing running to the garage made our lives significantly easier.Existing 2nd Story Crash PadZONING AND PLANNINGWe’re located in a suburb of Boston where ADUs are allowed by-right… except if the structure is detached from the main building 🙄 which requires a “special permit”.

* no public interest/demand for such services for them to exist?