Quote from @Akshay Kumar: Hello everyone, I am a new investor and looking for advice on my first investment property.

Buy and hold used as short term rental property.

This is an investment property.

With comps ranging from $875K-$1M and your estimated build cost at $550K, the after-completion value gives you a significant equity cushion, making this project highly attractive to lenders.If you plan to hold and rent the property, you could refinance into a DSCR loan after construction, which bases lending on rental income rather than personal income.

This last year I've been trying to really learn the business and begin to market for properties.

nevermind. sorry

So far, Board hasn’t spent the funds from 2023, but they also didn’t move funds back to Reserves after it was pointed out at the annual meeting that the funds are in the wrong place. 

However, in my experience the good wholesalers understand comps and construction costs, are transparent, have good referrals, and can actually get you in the property. 

What kind of account or vehicle would you suggest to start saving down payment money for my first rental property?

After meeting with a number (like 8) different contractors the quotes i got back made the deal, not a deal (i think).