If you have any upcoming deals that need funding, I’d love the opportunity to collaborate and see how we can work together to achieve mutual success.Looking forward to hearing from you! 

I have about 10-20 with a $4,000 balance now on a $1000 month rent, more with 2 months balance...

You might achieve the same result you're wanting with less time expended. 

My idea to achieve this is to convert the studio into a short-term rental.I’m trying to determine if I’m forcing this deal to work by relying on the short-term rental strategy or if it’s a reasonable approach given the numbers.

Your first step is definitely learning about the markets you are interested in and figuring our what your desired end state / goal is that you are hoping to achieve through real estate.

While at the same time sending their balance to collections. 

It is correct that there is no limit, but some of the aggregators and securitizers who purchase these loans post-close have exposure limits, such as $10 million in unpaid principal balance.

If anyone has tips for tackling those first few deals, insights on balancing these strategies, or just wants to connect, I’d love to chat!

In this case, since they are borrowing their payments, these would get added to the principal balance each month, and interest would be calculated on that.If, for example, the interest rate on the note were 10%, they would implicitly be borrowing their payments at that rate.

These modifications are carefully crafted to incorporate ADUs seamlessly, aiming for a delicate balance between increased urban density and sustained neighborhood character.