I would highly recommend doing a renovation loan like the 203k or homestyle - you are able to leverage SO MUCH CASH for such a low down payment. 

Purchase price: $69,000 Cash invested: $35,000 Sale price: $120,000 Summer 2018, I flipped this 1925 Polytech bungalow.

Purchase price: $69,000 Cash invested: $35,000 Sale price: $120,000 Summer 2018, I took on this off-market fixer-upper in the Polytechnic area of Fort Worth.

Purchase price: $86,000 Cash invested: $2,500 After being done with Rich Dad, Poor Dad, several podcasts (including bigger pockets), and other resources we were desperate to take action.

Purchase price: $225,000 Cash invested: $56,000 Purchased 4-plex from a wholesaler.

Purchase price: $650,000 Cash invested: $138,000 My business partner and I picked up this 25 lot mobile home park in Owensboro through a wholesaler.

Purchase price: $145,000 Cash invested: $15,000 Sale price: $180,000 2017, I tackled my first fix-and-flip—a 2004 double-wide mobile home on over an acre that needed a complete transformation.

But if you have a cash buyer who is specifically looking for income property, and even more specifically a vacation rental property,  I firmly believe that there is a value add from having a working STR there.

., but for now, we like to only consider semi-stabilized (with minimal deferred maintenance) or fully stabilized, cash-flowing properties. 

Actually dont need the cash.