Good to hear... i'm factoring in an 8% vacancy rate in my per forma, hopefully will accommodate any loss expected .

Use a promissory note drafted by an attorney to outline loan terms, including an interest rate that aligns with IRS Applicable Federal Rates to avoid gift tax issues.

If 2022 or later the values have dropped due to higher cap and interest rates so if you have gotten any appreciation at least you haven’t lost money. 

Hey Chris would love to visit.  100% of my business is helping clients in all 50 states with purchasing vacation homes/STR properties. 90% of my clients use the 10% down loan because the lower down payment requirement and rates/cost similar to a primary residence.

Mind you, it would be much less expensive to rent when you go there given the very low nightly rates due to the overbuilding.

Also, more people seem to be choosing trade schools over traditional colleges.

However, consider the higher interest rates and make sure the rental property you’re targeting can cover those costs.

1)Purchasing distressed property with seller financing with substitution of collateral clause.2) Wholesale property as-is, then move favorable seller financing to better quality property keeper at below market rate & favorable terms.

We were able to refinance with our go to bank at a decent rate in this environment which allowed us to pull out our initial investment and renovation cost.

All of these areas have relatively stable rent prices and notable appreciation rates