To me, that's just taking advantage but people will pay what they will pay.$1k UW - This is within the range$1k Legal - This is within rangeAdditional costs - title, appraisal, property insurance (~$2k)10% of renovation estimate as contingency due at closing.Renovation funds issued on a reimbursement basis for work completed. - I never, ever heard of 10% of the renovation funds due at closing and I've closed 100s of bridge loans with many different lenders.I think there's way, way better terms out there but I do not know your credit, if it is good these terms are way off.

So many advantages for all parties, just as you mentioned.

Yeah, having family in Houston is it's biggest advantage.

I would also advocate for looking at investment opportunities outside of STR so that you can get a solid understanding of the advantages and disadvantages.  

In addition, a purchase opportunity has come up next to properties we already own and would like to take advantage of that without using our cash to make the purchase. 

Here are a few suggestions on how you can maximize the wealth of information available: Check out the blogs and podcasts, or take advantage of the search feature (magnifying glass).

One big advantage of this strategy is you can use conventional financing with a lower amount down as it will be your primary residence which also has a lower interest rate than an income property loan.On your question about buying section 8 rentals, I think this is also a good strategy to add to your portfolio and you can buy section 8 duplexes in Lansing, MI for around 100K and its a great rental and investment market.To your success!

Hello everyone, I am new to Bigger Pockets, so I hope that I am posting in the correct category. 

Lots have free trials/free plans that you can take advantage of and see what works for you.

Are there any circumstances under which you would find it advantageous to double-close when you had a cash buyer willing to buy assignment from you?