It is definitely a competitive market. 

I'm a Fractional CFO for real estate developers across the country and I ran the numbers on this deal and I estimate that if you look to a bank for a DSCR loan, you'll need to put 50% down.

New construction is a fraction of what it was pre-covid even. 

Even if offering owner financing it's still tough for someone to risk $1M on a property that appraises for a small fraction of that.With multiple units, maybe you could look at a commercial sale? 

By fostering a collaborative relationship built on trust and transparency, brokers empower investors to navigate the complexities of real estate financing, ultimately contributing to their success in the competitive real estate market.

I plan to check them out although I don't think they can be competitive for lending against equity vs alternatives like IBKR.I will keep this thread posted as we navigate this in case others are interested.

Building a compset and diving into the details about the competition, cleaning fees, length of stay, and really, seeing who is out ther doing STR versus MTR etc. 

Like others have posted, you sound like an IDEAL borrower, including with your local banks...just as long as you (or your Fractional CFO) are talking to the "right" banks that understand investment properties.

How about when your competition is using bathroom sinks that are the ones that bowls ON the counter instead of in the counter?

We leveraged our expertise in negotiation to secure it at a competitive price of $140,000.