Does anyone know anyone that does 5% for a vacation home loan? 

The idea is to find a pocket or neighborhood that offers the right combination of estimated ROI and rental demand, giving a balance of cash flow and tenant demand.In my view, this approach provides a more reliable signal of demand than relying solely on pricing adjustments or short-term market trends.

Most hard money loans will not cover rehab costs.

@Drew Sygit Cool thanks I'll look into DSR loans! 

Typically when you see "cash only" the agent doesn't believe the property can pass a home inspection which isn't relevant for construction loans in most instances and there are plenty of banks, hard money lenders etc. who offer construction financing on distressed buildings.

Positive cash flow and low interest, i assume, long term loan is an enviable position that with time will produce larger cash flow.  

These loans are for a minimum $100K to $1-1.5M (different loan guidelines depending on the max loan amount).

if your loan is 154k  then this prop probably appraised for loan purposes at 200k or so. and that price point is usually in a decent area or street..

Don't forget to account for the cost of the appraisal or any other vendors...an appraisal and survey will over $1000 combined, for example. 

Investment Info:Single-family residence hard money loan investment.