I look forward to connecting with fellow investors, learning from seasoned pros, and hopefully sharing my journey as I dive deeper into this space!

They bought a second home near a popular tourist area, lived there for the summer, and rented it out during peak seasons.

I suppose I have it in my mind that I'm only able to get a LOC after I've appreciated the property, let it season, and then pursue an appraisal/refi.

This can be conventional or DSCRB) Conventional cashout refi - will need at least 6 months on title if no mortgage on the property (I think - going off of memory), 12 months seasoning if there is any kind of mortgage/lien/loan with the property; will be based on improved LTVC) DSCR cashout refi after six months of seasoning (most cases), and this will include any improved value of the property in the LTVMost cashout refi's will be limited to 80% LTV.

BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.

We have a 5 bedroom STR in a very seasonal market.

Occupancy rates are not 90%, it's seasonal, especially the mountains.

If you’re referring to the “newbies” with $10k to their name that watch a video by Pace and get excited and pay for joining, go out with their last $5k and do a sub to with a “desperate” homeowner without revealing all the possible consequences (because they are unaware of the consequences through lack of experience and lack of knowledge and or choose not to inform the seller) then I agree, it’s probably going to turn out badly for all concerned.If on the other hand you’re referring to a seasoned investor with excellent credit, significant cash reserves, who wants to add a property to their portfolio without going through loan qualifying, and can pay enough to give the seller “walking away” money because of the low existing interest rates and or, and is dealing with a informed seller, then I find nothing wrong or negative about the transaction.  

Choose a multifamily or single-family investment approach, consider low cash flow priority, and monitor interest rates and seasonal timing.

A lot more people willing to travel to wisp than Snowshoe from the D.C. area and there is a summer season of activities around the lake as well.