I am now finding that our rates are comparable to those properties that don’t offer a golf cart.

I wasn't interested in investing at the time, but I did have a chance to talk to a local broker and remember the asking prices being shockingly high compared to what the locals make.

What are the drawbacks compared to a conventional loan?

If it's a comparable out of area rental property, the number needs to be 25% or better for me to consider. 

Higher ROI on renovations in 2024 (75%) compared to 2023 (60%)Potential challenges:1.

If you’re short on down payments, here are a few strategies to consider:Leverage Equity: If you own any properties with equity, consider tapping into that through a cash-out refinance or HELOC to fund your down payments.Seek Joint Ventures: Partner with other investors who can provide the down payment while you manage the property or contribute in other ways.Explore Creative Financing: Look into options like seller financing or lease options, which might require less upfront capital and can be structured to fit your needs.Consider Private/Hard Money Lenders: These lenders can offer flexible terms and quicker approval compared to traditional banks.

Have not compared, not saying its the best

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

To add: you have a historically strong and consistent tourism presence, limited land/STR allowable areas, highly liquid property compared to selling a cabin in the woods, all 9 classes of visitors in the STR sector, and appreciation.  

How come no one has created a standard form for hard money lending where the terms are easily comparable across them?