I bought it with my mentor and partner who has experience in renovation and hard money financing Congrats!

But that's an oversimplification--there are probably some very smart people that bought some of these deals. 

although we bought about 6 years ago or so for 270 put 100k into it so you can do the math  no debt .. hoa 400  we pay utls. 200 or so.. so 600 a month out of the 3500.. tax's about 1500 a year ( got to love Vegas taxs ) value today right at 600k.. so lets say we net about 33k a year on 370k cash .. so not bad little under 10% COC with an outstanding tenant one of the best I have ever had.PS given tenant quality we manage ourselves.. 

I didn't know there was a different type of insurance that I needed.I had bought the home with a standard mortgage and standard insurance and then I decided later that I would flip it. 

This was 90 homes were i bought the dirt did the horizontal and built all the homes..

Cleveland is another solid option.

Another option would be to find someone to buy it and do a lease option contract with you.

Purchase price: $450,000 Cash invested: $680,000 Sale price: $1,380,000 Bought a tear-down prop.

Quote from @David Cherkowsky: Hi all, I'm interested in thoughts on creative financing options for an Airbnb in Northern Virginia.

hey David,As a broker, I have several options if you're looking to only touch the equity in a second position lien on investment property.