So your best bet is to put yourself in their shoes and shop around just like they would be.Also, some markets are definitely seasonal, and your market rent could change drastically from winter to spring/summer.

Renovation costs would need to be financed separately.Private Lending or Hard Money: Use a private or hard money loan to acquire and rehab the property, then refinance into a joint long-term loan.Seller Financing: Negotiate terms directly with the seller for a flexible financing arrangement.Final ThoughtsUsing an FHA 203(k) loan for your first property is a smart move, and with the right partnership agreement, you can still achieve your 50/50 goals.

If you're cash, you have more flexibility.

I bet they were valid.

Find one that does not have a high-priced long-term monthly contract, flexible pricing, and excellent customer service.

Being flexible in a way that still protects your investment can help build a better relationship.However, if they’re not responsive or don’t show good faith, you might need to take a more formal step, like issuing a notice to pay or quit.

Buying fent from a stranger is a safer bet. 

The main drivers1) Local Inventory2) 10 year treasury(macro)3) Personal Debt levels(macro)4) Real Unemployment(not the unemployment number but real white collar job loss ratio'd to part time jobs). 5) Industry proliferation(can't tell me a tech or finance hub moves like a health hub).To tell me #2 will derive from the same inputs as it did in Sep/Oct, I'm willing to bet it won't.

The only instance in which that would be appropriate would be if they need payment flexibility, as most HELOCS only require a interest only payment.

Hey @Mike Pepperday, AirBNB and VRBO are your best bet to see what kind of demand there is for STRs in general.