If you determine that the numbers look good, make sure to check other sites to see if the comparable property is on multiple sites that may add to the numbers.  

My other SFR notes have interest rates determined by the borrower's cash, credit score and income - so market rates or higher.I understand the difference in performing vs non-performing notes and that performing can become non-performing pretty easily. 

Ownership demand here seems to heavily outweigh tourism demand and i'm struggling to get anything to pencil.  

I'm very good at running comps and determining rehab costs.

Find out what rate rents are increasing and expenses are increasing in your area and use that in your underwriting, then work out each year of ownership. 5% rate in 5 years seems ambitious.

The after-repair value determines if the property is a good BRRRR or flip.

I would also do a property walkthrough asap and determine if the tenant will be occupying the property until termination is possible or leaving.

Trial and error help you to determine your list.4.

The town is encouraging home ownership, so buying a condo/single, living in it for a year plus and then renting out works fine here (what I did), whilst house hacking a multi is more complex.

So depending on if you are using it personally and want to have it pay for itself or you just want cash flow will help determine where you should look and what type/size home you want to consider.Please reach out anytime and let me know if I can be of help.