Mid-term is more likely to work in any market than STR, but I think you would be surprised at how well an STR could do if there are no other options like that in the area (think people's parents or friends coming in for the week(end)).I've seen a lot of people grimacing at the net-negative house hack (it's just a product of rates and low inventory in a lot of markets) and this is one option to try to recoup some of that loss.

Quote from @Glen Wiley: I am not a big fan of those rules - I think they are too simplistic.What will your interest rate be?

I wouldn't discount that credit report.

Hopefully as the rates and the housing market loosens so will some of these guidelines in the HML programs. from talking to hard money funds especially those who operate in more than 10 states, and 5 years of experience with underwriting teams, I'd actually disagree and say new construction is preferred to rehab due to experience level to enter the market. there's BP lenders that will do 15% LTC with 1-2 new build experience.

Quote from @Paige Corsello: Hi Bobby, the majority of my business is in Pittsburgh, PA and Florida Paige I can go 80% cash out in PA In FL I can go 75% cash out and 80% rate and term

In Philadelphia where I am located the going rate for this service is 1 month's rent.

It’s a good idea to confirm you have a path to record title in a way that’s financeable, even though this isn’t a standard fee-simple sale.The big question is whether it’s reasonable to pay a market-rate price when you’re not actually scooping up the land.

For those who are charging higher nightly rates, where would you say your rates are vs comps to try to weed out the trouble guests?  

It is a big reason my last purchases were Dec 2021 when the rates were less than half of the current rates (I purchased $4m that month that I have already made ~$1m from).  

I’ve learned a lot from BiggerPockets and am eager to apply that knowledge to build relationships with investors looking for great deals.Right now, I’m focused on finding cash buyers who are interested in discounted properties.