I bought this property with a private interest free loan from a friend. the person i bought it from need cash fast so i offered them a low cash offer and they accepted.I had enough money saved up to rehab the house with my savings.

Two things I remember that probably don't happen today: -First property was a no-doc loan, technically low doc because you still had to provide information but with 30%+ down pretty much anything you wanted was yours.

What are your Loan terms and P/I relative to the cashflow after taxes?

DSCR recently came popular in the loan brokerage and private credit space with the rise of STRs and MTRs.Your local bank lenders will have the best rates typically.  

Such deductions could result in substantial refunds, providing critical financial support during a challenging time.Residents may also explore disaster loans or grants offered by the Small Business Administration (SBA) to cover damages or losses.

Most mortgage companies will not call loan due if payments are current but you do run that risk and need to be prepared to payoff or refi at a moments notice.

Do you have a significant other who could take out the loan?

I can say from having taught classes on these loans that your contractor will be the biggest key to your success.

While you work on that, you could also explore creative financing options like DSCR loans or partnerships to fast-track your first STR.

So if I am looking at an asset as a 10 year play - I look more at the location, schools and how has this market performed in the past excluding covid and 2008 which were extenuating circumstances.Reality is right now shorter term plays do not work based on numbers and cost of financing - we went through this same thing in 2001-2004ish timeframe where properties would appreciate 2-3% per year and after buying costs and closing costs - you were not making money on assets unless you performed the labor or found a really good deal.this is how real estate "typically" is - which is why everyone always says location location location - because after a decent holding period, you will win.