I agree that it is purely a preference.

Typically, many people would pick a lender purely based on rates and pricing.

@Kim Harlow-WilliamsThere will be other factors to consider where to invest besides pure math calculations. 

I am well aware that nobody who bought into this was thinking in purely analytical terms when they bought it -- there was a national media figure freshly retired from a network a lot of people trust at the head of it, waving them in.

Lot of accredited investors these days are moving from pure 100% equity deals to 100% debt investment, it makes sense as 8% IRR vs 12% IRR  vs 5% IRR from CD is not much different.I am investing to debt also but very small, but I am no longer interested in collecting small cash flow, I am working to make investment above 25-30% IRR only by own own very active real estate business.

Hi BP friends,I recently have been looking at STRs near National Parks, and I wonder whether it is a pure cashflow play, or a combination of cashflow + appreciation play?

As a pure investment it looks okay, but with a primary residence for my family thrown in at zero additional cost, it looks really really great.  

I do these purely as investments and would collaborate with others to discuss challenges with finance and ground up construction.

:- No, just pure linear growth of +$25/mo applied to the wrong $/sf (95111 is ~$700/sf currently, not $900/sf+). 

Quote from @Ryan Davies: Most work this way: Rates: 9% to 13% (Most Deals are 11-12%)Terms: up to 36 Months (Most Deals are 6-12 months)Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))Minimum Loan Amount: $50,000 (For loans less than $250,000 we charge $2,500 minimum)Max Loan: 65%-70% of After Repair Value(ARV) 100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 WeeksWe have private lending partners throughout the entire United States that cover the following states: AL, AZ, AR, CA, CO, CT, DE, FL, GA, HI, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, OH, OK, OR, PA, RI, TN, TX, UT, VA, WA, WV, WI, WY.