My wife and I have obtained three traditional loans and one lease with the option to purchase, resulting in most banks turning us down based on debt to income (non-portfolio lenders). 

Most non-qm loan products will never have a 95% LTV due to the inherent risks associated with these type of loans not being traditionally backed by fannie or freddie (investment banks).

You have to find the areas that are either zoned for Hotel and Resort or have NUCs (non-conforming use) certificates. 

If you did, you could take advantage of some unique strategies, like renting it out while traveling (as long as it’s for 14 days or less) and having that rental income be completely non-taxable.

Non paying tenants(as a newbie I did no screening), dead tenants, Silly fines from the city for nothing, attempted robberies where I ended up with the cops pulled guns on me. 30 recently released convicts as neighbors for a while, a jacked up 7' tall transvestite call girl/drug dealer was my least favorite neighbor.

Even first-time flippers should be able to get these terms: Application/Credit Report/Upfront Fee: $0Appraisal Cost: $0Down payment: 10% of purchase price (= 90% LTV)Rehab funding: 100%Interest payments: Paid only on amount drawn (non-Dutch)Prepayment Penalty: $0Reserve Requirement: $0Max Funding: 80% ARVMax Funding 95% LTCClosing time: Measured in days, not weeksI hope this helps. 

County or non-public utility properties are possible to license but can take 90-180 days. 

When I told him it would be a very bad time to sell the mortgage notes as there were almost no buyers, he said he didn’t realize we were investing in non liquid assets?  

Now it appears your cleaners might be cleaning non-STR properties also (home owners).

The goal is to ensure that the property remains viable even if circumstances change, like dealing with a non-paying tenant or a market downturn.