We estimate the project will take less than 3 months to complete.I’m exploring alternative short-term financing solutions and would appreciate any advice or recommendations on options that might work well for this type of project.Thank you in advance for your insights and assistance!

Quote from @John Brown: Quote from @Katie Miller: Are you saying you would long-term rent it from your friend and then run it as a short-term rental? 

However, very glad that we pivoted to mid-term rental approach around $4,500 to $5,000 that has helped address vacancy.

Purchase price: $170,000 Cash invested: $30,000 This is an international short-term rental property on a Greek isle.

Lancaster city limits short term rentals to only certain zones of the city so definitely look at the city website for that information.

Feel free to reach out if you have any questions.The Short- Term Rental Loophole ExplainedThe Short- Term Rental Loophole Explained

.: Quote from @Jennifer Turner: Has anyone ever sold a property with seller financing then later extended the repayment period or modified the terms of the loan with the buyers?

I’d think long and hard about this and possibly set up financial parameters for who is responsible.

I am looking to join a mentorship program to help lower my learning curve and until I find it, I am educating myself with books, as well as YouTube University and great advice from the BiggerPockets community.I do work full-time in a career that I love and is very rewarding, but I also know I won't attain my goals with my current job.

Seller is the Agent.Seller bought property in January of 2023 for $730,000Current “As Is” Value : $770,000Target Acquisition Price: $730,000-$780,000 After Repaired Value: $900,000Repair Estimate: $120,000Initial Offer Amount: $715,000Loan Program: Bank Statement Program.Total Estimated Monthly Payments (Principal, Interest, Taxes, and Insurance) $5500/month (based on $770k purchase price)Estimated Gross Yearly Income from Short Term Rental: $160,000 (65% Occupancy, $700 a night| (STR Listing Comparable properties Listing 1 Listing 2 Listing 3)Net Monthly Income after management and taxes: $11,751.25Net Monthly Income after Mortgage Payments: $6251.25 ($75,015) Per YearTotal Cash Investment: $297,000 ($177,000 in down payment and closing costs and $120,000 in repairs)Average Yearly Return on Investment: 25% yearlyAverage increase in property value per year: 5%Average increase in booking revenue per year 7.5%Property Value average after 10 years: $1.5 millionTotal Cash received over 10 years: $1.3 million.Total Equity multiple min over 10 years: 6x total return on $297,000 invested.