They aren't the actual bank so need to upcharge these fees and hoping in volume they can make enough to continue operating. 

In addition, his point of view is that any attorney worth their salt can find a way to defeat an LLC, they aren’t the rock solid wall people think they are by a long shot.Again, this is what I was told, so please find the answers from an actual attorney.

If you aren't paying cash and are doing owner occupancy you may be able to use FHA instead of Conventional with a higher down payment. 

@John Keane A few comments:-If you aren't able to raise the funds from your closest friends and family it is unrealistic to believe you will be able to raise the money from anyone more distant to you.

Insurance right now is wild, so I'd get a solid broker on your team - I'd be happy to share my contact if that would help.Also, aren't most of the existing insurances shared on the OMs for the properties? 

Hey @Spencer Cuello, so you will find most of us aren't fans of arbitrage.I see you listed NYC so you know that you can't do a STR in the city unless you live there.IE: You need to be onsite, living in the same unit you are going to rent.As per usual...

There aren't many lake front properties in that area for sale, but there are a number that are in the 800k range.

You want to make sure you aren't muddying the water and making the tenant think they have longer to get out.

A good designer and architect are key for a successful project like this and keep in mind these aren't cheap.There's a lot more details to consider, feel free to DM me for more details.

That's what we do and we basically tell the students that "if we aren't willing to invest, it's not a good deal and you shouldn't do it."