They all thought they were loaning, which you build the business with THERE $.

Encourage him to build credit to 680/700+, get 20% down, and have 9-12 months reserves and then he can get a No Income loan from one two different lenders. 

It might be worth it to try to source a property that's off market or via a wholesaler that needs rehab so you can build in equity.

This is the best platform to create and build a lucrative investment team. 

Wealth Building: Paying off the first STR focuses on cash flow and financial security, while buying another property focuses on scaling and wealth building.

., turning a residential property into a commercial property)-Temporary Structures-Non-Residential Buildings (e.g., barns, stables)FHA 203(k)Minimum Down Payment: 3.5%Minimum Credit Score: 620Minimum Loan Amount: $50,000Maximum Loan Amount: $524,225Occupancy Types: Primary Residence ONLYUnit Maximum: 4 UnitsAcceptable Renovations:-Structural Improvements/Reconstruction (e.g., adding rooms, bathrooms)-Cosmetic Enhancements-Eliminate Health and Safety Hazards-Energy Efficiency Improvements-Major Landscaping (e.g., grading, tree removal, adding walkways)Non-Acceptable Renovations:-Luxury Items-Commercial Use-Temporary Structures-Non-Residential BuildingsBoth of these renovation loans are similar in many ways, but the key differences are:1.

Our next step was to start helping you improve/build your credit so your score will increase.Last, our mission is to help 100k people obtain financial freedom and we have no incentive to "prey" on anyone.

This could help secure a higher LTV while you build STR rental history.

@Polat CaglayanI've never seen a formula but here is a general rule of thumb for multifamily:The class of an apartment refers to the quality of the building, which can be determined by a number of factors, including age, location, and condition: Class A: These are the highest quality apartments, typically built within the last 15 years.

I’ve worked with several first-time investors, including out-of-state buyers like yourself, and it’s 100% possible to build a successful short-term rental (STR) business even when you’re managing remotely.