We tell hosts all the time, it's more management and more money than traditional SFR.

We got it appraised for traditional financing and it came back at $3.125M so we were able to get our investor their $1.5M back.

My vision includes developing the land into a destination with features like driveways, walking paths, utilities, and unique lodging structures.Here’s my tentative plan1.Place the existing STR in an LLC2.Apply for an SBA small business loan to fund the next steps, including a feasibility study (~$10k+), land clearing, and infrastructure development.While this direction excites me, I’m torn between pursuing this venture and continuing with a more traditional approach—buying one home per year using conventional loans.I’d love to hear your thoughts:•Has anyone transitioned from STRs to glamping or similar ventures?

Thank you very muchJaša This is how traditional banks, private credit funds and anyone in the lending space works.The challenge you will have is finding someone to give you money at X%. 

I still have clients buying in Vegas, but it's not as common due to cashflows being hard to come by with the traditional 25% down financing.  

@Kay S.Assuming you are getting title insurance (which I recommend) the closing costs will be similar to a traditional closing.

You can refinance into more traditional loans later, but that initial speed matters.

They provide flexibility and efficiency, especially for experienced investors.How have you found the terms and structure compared to traditional options?

The mortgage company gets paid off first, then in a traditional sale, the rest minus agent fees and utilities and closing costs goes to the seller.

The "slow flip" I am referring to was purchase the property in the traditional financing way and then live there while rehabbing and improving (adding bedrooms, getting the yards back in shape, updating finishes, building or adding shop space, etc.).