Do you lean towards traditional mortgages, private lenders, or creative financing options?

Traditional.

It is a currently operating as a traditional bed & breakfast?

Yes, I can KS.The fundamental deal is the same as always, making sure that a traditional residential property meets our criteria, is well renovated, and has a great ratio of purchase price and rental income.Just as an example: I was offered a duplex in Ohio last week for $135K, rental income of both units together is $1900/month and the down payment through a special financing vehicle is $15188.Initial cash flow is minimal but still positive and with a planned refi in about 3-4 years when rates are back down, it will jump massively.

Some have gone this way, some still do the traditional route of Request - Forms - Schedule - Inspection - Report - Approval - Wire. 

By default, the Mortgagee is both the one that lends and the one that has an insurable interest and therefor both descriptions pertain to “Mortgagee”.Which is preferred: Traditional Banks always only require they be listed as the Mortgagee whereas Hard Money and or Private Money; it’s 50/50.Now, you’re probably wondering in what instance would someone be listed as a Loss Payee but not Mortgagee- well, let’s say someone lends the property owner money in a non-traditional fashion - we can chat more about this later -whether it be for the property or for something else, doesn’t matter, and the borrower uses the property as collateral.

Each strategy has its pros and cons, and finding the one that aligns with your goals and preferences is crucial.Look into creative financing options beyond traditional mortgages.

It's not the traditional 2-4 unit multifamily or rent by the room house hack, but you get the idea - get creative about ways to make money off of your primary residence as well.Overall point is that you probably need to get scrappy to get you to the point of leaving the W2. 

Austin is a very challenging market for cash flow at a traditional 25% down payment.

Investing in short-term rental (STR) properties in Florida with bad credit poses challenges for traditional financing due to credit score restrictions.