Seller is the Agent.Seller bought property in January of 2023 for $730,000Current “As Is” Value : $770,000Target Acquisition Price: $730,000-$780,000 After Repaired Value: $900,000Repair Estimate: $120,000Initial Offer Amount: $715,000Loan Program: Bank Statement Program.Total Estimated Monthly Payments (Principal, Interest, Taxes, and Insurance) $5500/month (based on $770k purchase price)Estimated Gross Yearly Income from Short Term Rental: $160,000 (65% Occupancy, $700 a night| (STR Listing Comparable properties Listing 1 Listing 2 Listing 3)Net Monthly Income after management and taxes: $11,751.25Net Monthly Income after Mortgage Payments: $6251.25 ($75,015) Per YearTotal Cash Investment: $297,000 ($177,000 in down payment and closing costs and $120,000 in repairs)Average Yearly Return on Investment: 25% yearlyAverage increase in property value per year: 5%Average increase in booking revenue per year 7.5%Property Value average after 10 years: $1.5 millionTotal Cash received over 10 years: $1.3 million.Total Equity multiple min over 10 years: 6x total return on $297,000 invested.

My friend spent $81,000 on marketing and told me he could not trace one sale to a lead generated by the program and that the program generated almost no leads anyway.  

There are many communities within each of these areas that run or allow nightly rental programs. 

There are loan programs specifically for Virginians.https://www.virginiahousing.com/enGood luck and Happy 2025

The voucher program typically determines the amount they’ll pay based on their calculations, and you don’t necessarily need to lower your listed price for utility allowances.

If you don’t have a large down payment saved up, don’t worry—there are plenty of options available . . .”A trusted lender will go over the various loan types with you, any down payment requirements on those, and down payment assistance programs you may qualify for.

I recommend you research the local section 8 program. 

I just do not understand the need to add "benefits" to the programs  that are just not real. 

@Heather McNicol when you say the program is expensive, can I ask how much the program costs?

We require that allanimals be on a flea and tick preventive program.