You should be able to realize 3-5% pretty easily with that kind of money, so then it just comes down to how much work you want to do and how much income you need/want. 

If you do budget that much, the you will easily hit your profit target.There are currently no restrictions in Lewis county and STRs work there, but there is always discussion on them by the city.

Yes - you should be able to find some good DSCR Loan Options with 20% down easily - 15% down potentially available but the rates/requirements are pretty high on that front right now

Structuring your lease in this way would benefit you by 1) locking in a longer term contract to avoid turnover costs and vacancy loss; 2) it moves your lease end date out of the winter season and into spring/summer of 2026 so it can be more easily marketed and re-rented to match the seasonal demand cycle; and 3) it avoids any upset/angry tenants who may have been incorrectly assuming their rent was going to stay in the $1,200 range after their first 6-month lease term.Would love to hear any updates you have on how this one shakes out for you though!

Even if you all used the same app, your insight and experience allows you to make a better offer.Personally I would probably still use a spreadsheet just because you can customize it easily and it can do more if you need it.

The Cleveland market would allow you to hit those numbers easily.

Can easily get a 20% referral fee just for sourcing and handing off that lead.

This is a significant risk to the other two parties that are bringing the deal and the money when they could just as easily hire a contractor and keep the equity for themselves. 

My other SFR notes have interest rates determined by the borrower's cash, credit score and income - so market rates or higher.I understand the difference in performing vs non-performing notes and that performing can become non-performing pretty easily. 

For example a price below where I think it will sell for, attracting more Buyers, but not too low where I'm doing unnecessary work filtering out Buyers who don't understand the market conditions.