I'm not sure what his cash investment was, but he built them himself so he's probably pulling a decent ROI like you and was pleased with their performance.Anecdotally, we saw a big, new cabin on Little Bear Rd up the road from there that was for sale. 

They have pulled back to servicing existing customers and only ones who have already been doing business loans and not just banking services.One of the bankers said they have no loans or properties for sale. 

If you are getting it financed, you could ask that the bank decide to pull out of financing it.

I used it to purchase an off market deal and am about to refinance to pay it off and pull out equity (550K total). 

We do have access to a HELOC on the property which we leveraged to purchase our current primary residence (balance borrowed has been fully repaid at this point) but we would rather not pull that lever to roll into a new property given current interest rates and the adjustable nature of the HELOC. 

Finding properties to do a pure BRRRR in our area can be tough, so a lot of my clients end up pulling the trigger on STRs. 

You'll likely want to cash out and refinance your primary residence to pull some cash together for a down payment.

As for 1031’s…1031s are almost impossible to pull off, even if you’re simply trying to leverage into a higher value single property.

Look for someone pulling GIS dataTell them the town or zip code your interested in.  

Many people that were newbs a few years back are now pulling down some serious cash in Austin.