I do manage the books for a couple of my own businesses that are under the main business. 

Why ask: This helps you understand how many people have succeeded under their mentorship, giving you an idea of the potential outcomes.

Simply put, many of these distressed properties were put under duress by the former owners financially, not necessarily the location.

Getting into almost any property in Charlottesville for under $200,000 is quite the feat.

To qualify for a loan, focus on having a credit score of at least 620 (or 580 for FHA loans), keeping your total monthly debt under 43% of your income, and saving enough for a down payment and closing costs—about 5-10% of the home's price in total.

However, short term rentals are much less passive than long term rentals and are essentially a hospitality business, which is in and of itself required a whole additional layer of knowledge and expertise.With regard to your question about private lenders, it’s important to draw a distinction in terminology between “private” and “hard money.”

It's important to know what market rents are for what you are analyzing, many properties are super under rented and you have to get them to market rates. 

Under "Start a Business", choose "Limited Liability Company" and follow the directions.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

The previous company wanted to do something similar, but our attorney pointed out that this wasn't allowable under Florida law.