My goal is to spend 2-3 months a year there and rent it out for the remaining 9 - so I am not sure this initial property will be for pure investment purposes. 

Everything is pure profit after that.Do the math and see if it makes sense to you.

Is it something for pure profit?

@Tracy LeGrandAre you looking to do an MTR/STR for purely investment purposes and to have something to manage/work on in retirement?

That seems to be pure marketing. 

If this is a purely investment property and you don’t live or rent it out during construction then the carry costs will be part of your short term capital gain calculation.  

I look forward to hearing from you soon.My advice within reason is to separate out the primary from the investment property, ultimately any property you buy probably isn’t purely the absolute best property property you can buy from an investment standpoint but that’s ok, I’d figure out what budget you are comfortable with, figure out place you can be happy for at least 5 years and at the end hope it cash flows, I’m not saying buy some property that’s an absolutely terrible investment but there’s more to life than a few hundred in cash flow in 5 years lol.

I know investors who purely work with one broker or lender, because of the strong relationship they have built with that individual person, I also know a lot of investors who jump from bank to bank just to get the best terms, and then never come back.

The rehab always seems so costly especially when the value is purely protection.

And, I get why you view it as success: more deals = more fees and more chance to collect carried interest.But, the logic of this statement is purely beneficial to the GP and detrimental to the LP.