@Keetaek Hong I have a lot of clients who are facing the same challenges but they understand the long game and that it's imperative to build a portfolio, With that lowered interest rate I mentioned you are looking at 30% down and including PM fees will typically have you around break even or barely positively cash flowing.

Higher inflation equals higher interest rates. 

Conventional loan, 25% down at ~7% interest rate How did you add value to the deal?

At any rate it is possible, but depending on your appraisal it could be a gamble

The price points do make it hard to cash flow even with the lower interest rate subject tos. 

Some lenders offer discounts to return borrowers so maybe look into both flip and DSCR rates when finding a lender. 

A great lake front home doesn't have to cost a mint but it sounds like you want something that is really fantastic which will bring a higher nightly rate.

I would find a loan officer that does both conventional and FHA renovation loans to compare which has better rates and terms for your situation.

Many claim they do not charge a markup, but then aren't transparent with invoices, etc. 1) If a PMC charges $x hourly, their markup is built into that hourly rate as they are NOT paying their workers that hourly rate.2) Many PMC's send you ONLY their invoice, or from their wholly owned maintenance company, not the underlying invoices from Home Depot and contractors.

Hosts can get involved by either donating a portion of rents from their payouts or they can offer housing at a discounted rate.