You will owe monthly payments until you fix the property up, rent it out, and refinance to a more traditional 30 year fixed rate product. 

STRs in non-traditional vacation markets like Stuttgart or Wiesbaden aren’t t just about breaking even they’re re about creating consistent cash flow that also serves as a long-term hedge against inflation.5.

Like 90 percent of lottery winners are broke in less than five years because of thinking like this. 

It takes time but worth it.How do you plan to finance your first property—are you looking at traditional loans, or have you considered other options like house hacking?

However, we often facechallenges in sourcing suitable properties through traditional MLS listings.

A couple of years back they even cancelled holiday lights traditionally displayed in a large local park.

Can they be listed alongside other traditional MLS listings?

Is STRs the way to go in Hawaii or maybe just traditional LTRs instead? 

I hear you, I think the price of turn key STRs are almost impossible to make money on in the traditional markets. 

-> Funding: you can consider as options mortage brokers who can scout/compare the best offers in the market and you can also consider public funding programmes that exists as an incentive to renovate and bring houses to the market, either for tourism or traditional rental.As an example, on the traditional rental there is a funding program ("Arrendamento Acessivel") that funds up to 90% of the project and can be used to cover part of the renovation costs, as well as, part of the purchasing.