I have done over 30k reservations and only had 1 instance of a guest causing above $10k in damage, so not sure how worth it is to pay for additional coverages. 

Quote from @Jaycee Greene: Assuming you pay asking price, I'd estimate the down payment for something like that using a hard money loan (HML) would be around 40% of the purchase price and your monthly payment would be $2,600 with an interest rate in the low 7% range (probably need a 700+ credit score to get that).

Now, you need to figure out how to find deals and pay for them.

I currently manage my wife's duplex, and we're hoping to reposition ourselves so we can buy a home to live in and still purchase investment property, but one that can pay for itself.

The spread between what they're paying and what the market rate indicates is not that much.

The tenant had until 1/6/25 to pay the back rent or move out and did neither.

Two, you'll have a much easier time obtaining a mortgage product if you have a track record of W2 income.In the meantime, continue implementing the strategies you mentioned: save religiously, build your credit, pay any existing debt owed, etc.

I am just starting out with a STR and found that VRBO is not very specific if they are collecting the tax and paying it to the State as a marketplace facilitator or am I responsible for this tax collection and payment ?

The tenants began pay rent on time, but then payments began coming in late, then half, then partial, then none.

MUCHHHH better and of course that leaves us with plenty of room to pay the mortgage payment so the lender is happy.Btw, I just wrote the Co-Living book for BP that comes out in Spring, you can sign up for it here!