I've heard too many stories of investors purchasing homes for STR use, only to find that they lose their permit or the ability to transfer it when they sell.

There's a big swing here in insurance and tax calculations I see and getting those numbers accurate are critical for your ability to not miss on good deals

With the need for more homes overall, and it also gives the renter the ability to have a new home.Best of luck to you on the next deal.

You also have the ability to re-amortize the loan to suit your timeline.Let’s say I have a $500,000 interest-only mortgage on a property.

But the answer for everyone may differ.Here are the personal attributes I see in those able to achieve a higher than market ROI, enough higher to be able to “scale”.1- Knowledge of real estate principles, real estate law and real estate finance2- Minimum 3 -5 years full time, or near full time experience directly related to real estate investing3- Ability to utilize technology for increased efficiency, capacity, and accuracy4- Excellent hired legal counsel and excellent hired marketing help5- Established method(s) of obtaining consistently high QUALITY deal flow6- Ability to manage and choose people who are NOT employees: Attorneys, Appraisers, Mortgage Brokers, Real Estate Brokers, Title Companies, Surveyors, Marketing Specialists, Accountants, Contractors, Consultants, Property Managers7- A VERIFIABLE track record of success8- Ability to identify, analyze, and negotiate a deal that can be “worked” for “enhanced” ROI9- Some type of competitive advantage; for example for me it’s my ability to analyze and identify mortgage loans that are actually less risky than all other lenders believe (on the investing in debt side), and on the real property side it’s my ability to analyze”pull the trigger” with LESS information than other investors need,  combined with the ability to pay cash, or raise significant capital almost instantly as well as being able to obtain loans at the lowest prime customer bank rate with no recourse or personal liability.  

In the last few years, they've made illegal:-Rent controls of any kind-Limiting of fees or screening charges-The ability of HOAs to regulate STRs or LTRs in their neighborhoodThat's just the start.

Quote from @John Friendas: Quote from @Chris Seveney: When buying at auction you will have zero ability to sue (and win) an auction site if information is not correct.  

depends on your credit if you can get a mortgage or your ability to find good deals that you use hard money for and then refinance into DSRC.  

Dan makes a great point - you want to be clear of any areas that are working on limiting the ability to rent OR cap your rental potential.

I would just continue to grind over the years until you have the ability to pay for the DP yourself.