If I had a good tenant and they continue to be a good tenant, I don't care where they legally get their money from.I agree that most S8 do not meet my criteria even without considering the source of the income.However, we have another policy that also works against S8.  

I would love to meet and network to people in South Florida , and find a mentor or someone who has taken a similar investment route that I am doing from flipping to owning rental properties.Really just meet likeminded people. 

@Chinku Chinku the rich get rich by making their money work for them.They borrow at one rate, to invest in something that returns a higher rate - they profit on the difference.Only you can evaluate your risk tolerence though.

You can find out nightly rates, occupancy and amenities.

This means that the property doesn't qualify for the extension, probably because it doesn't meet the covenants such as DSCR or debt yield, so the lender is making an exception and is willing to grant the extension in exchange for the $4 million.

When you finance through national lenders, in your experience, is a balloon a common requirement for commercial loans of this nature or is it possible to get a fixed rate for 30 years?  

On a daily basis I get questions from investors/property owners about the rental rate for their rental property.

You can also expect increasing HOA fees, and there may be some problems renting a property inside a difficult.You don't have any experience, prices are at an all-time high, and rates are also high. 

My budget will be around $200k but I’m meeting with a lender on Tuesday to go over all of my options.

I think about this often, its really just running the numbers - if you borrow 100k at an 8% interest rate, will the investment get you more than an 8% return?