This is tough for new investors that focus so hard on cash flow as their main criteria.

We will be in touch as I continue to network and come across deals. 

However, we (wife and two kids) own this 3rd deal and want to keep it as our permanent home.

For calculating IRR, use the total cost of acquisition—this would be the mortgage balance plus the 50% buyout equity and any closing costs.Regarding refinancing, assuming the loan under the Garn-St.

But I’m thinking of getting into STR investment and become more active.I’m a complete newbie to short-term rentals (STRs) and eager to wet my feet in this area.

Read this.   

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This way, we receive continuous updates from attorneys who eat, sleep, and breathe lending at minimal cost and we know we are always up to date.

But what made me think about it for you as I read your post is the LULA feature. 

Again, we have done this successfully in the past.