This depends on many things specific to each investor. 

I am interested in the Brrrr method and I want to evolve from wholesale space to that.

Since this is our first I was thinking we could possibly do 10% down with a second home loan. 

I have experience handling this in Michigan with my short-term rental.

What am I missing here as I think through this?

It'll likely pick up again at some point, I'm hoping that this summer will be much better than last year was. 

Or will i need to have $35k + reserves of my own money to make this happen?

My humble advice to anyone attempting to do creative finance is:Creative finance is for experienced investors who have access to capital if anything goes wrong.Learn the lawsDon't use a contract "off the internet", laws vary by state and are also regulated on a federal levelLearn the financing techniques correctlyDon’t skip parts of the processDon’t ever do a “kitchen table” closingUse the proper deedAn attorney can help you with the legal work, but the rest you are on your ownYour guru will not bail you out“Investing” in someone else’s deal by providing a small 2nd loan so the “investor” can pay for “cash to the seller” and for “closing costs” so he can do the deal is a very bad planKnow what problems can ariseLearn the responses and solutions to problems before they are neededKnow everything there is to know about Title and what that meansKnow who a "protected class" individual isLearn the "back doors"Learn human natureUnderstand timelinesUnderstand regulation enforcement (some of these "mistakes" have a 10 year statue of limitations ( they can charge you 10 years AFTER you do the transaction) and carry hefty fines and possible imprisonmentThe court doesn't accept "I didn't know" for an answer"Know that the source of the lead plays a serious role in some states and federallyKnow how much of a "profit" pushes the boundaries to invite an investigationYou can be sued by the seller if you don’t do things correctlyYou are automatically at fault if an investigator or attorney or regulator gets involved.

In all seriousness, if this is the start of a budding STR business for you, your parents should understand. 

See what others are renting for, the price yours accordingly.You can't do this once and know the market.