Hey@Stephanie Medina, so if you are close to your new STR you could start scouring FB marketplace, Craigslist and others for used USA made furniture.You can get great stuff for pennies or even free.

Hey Jeff without knowing any details everything is what you are able negotiate. but you have to take in account the years interest rate and purchase price and what kind of cash flow.I will say get a mentor if you’re inexperienced these kind of deals can go left if you really have little knowledge when it comes to structure .

I just bought a SF rental from a wholesaler in Detroit (just north of Bagley and south of Ferndale) and have another on market deal under contract in the Morningside area.

Like everything in real estate, it comes down to negotiating a good deal upfront.

You also have the option to close these DSCR loans in your LLC as opposed to your personal name.Our team finances just shy of 100 DSCR loans on a monthly basis.

How much of a credit do they offer at closing to cover the servicing fee?

Following as I deal with STR in the lake region.

I bought it for $138,000 with a rehab credit of $57,000 so I closed on it for $195,000.

Lets do some math, You have $40K to purchase which likely means $35K when including closing costs.  

I don't know of any good reason to make it a requirement other than it is easier to get deals closed quickly.