I know conventional would be cheaper cost wise, but isn't her husband eligible?

@Daniel Hartless for any condos that allow STR, you will not be able to get away with 10% down as a second home, because conventional loans do not allow financing for a short-term rental and will require a minimum of 20% down.

That's missing the forest for the trees, but you do need to manage cash flow because if you're buying conventional you'll come across DTI issues soon and if you're buying nonQM it needs to be 1:1 ratio at minimum to be qualified without unfavorable terms. 

Digitize physical receipts for easy storage and use a consistent naming convention for easy sorting - 2024.03.25 Home Depot.Maintain proper records, such as contracts, settlement statements, and promissory notes.Additionally, you can track income and expenses consistently using software or spreadsheets.As you scale, if bookkeeping isn't fun, consider hiring a bookkeeper for a couple hundred bucks per month.

If the loan is conventional, it is likely serviced by a mortgage servicer and you will have difficulty getting in contact with the actual investor who owns the loan.

I've seen you post a few times about 70% max leverage but 75% is widely available, at lease with non-conventional 30Y DSCR loans.  

@Dave Harlan, I have been using conventional lenders since last 7 years and hard money since last 1 year.

They typically have multiple origination points (meaning very high closing costs) very high rates (compared to conventional but also compared to 6 month or longer waiting period DSCR products) and almost always have VERY long pre-payment periods up to 5 years.

A few are conventional 30-year fixed loans. 

Can you use conventional loans, or does the loan need to be non-recourse?