I used a LOC to build a 12 site RV park in a small town, opened it up and 1.5 mnths later, I'm full occupancy and servicing the debt (some of it at 8.75%) & cash flowing.

Bob arranges the money for Joe, so the bank is short again even though Bob could have paid more on the debt.

In addition to down payment you need reserves which is 12 times or 24 multiplied by all you debt.

If I finance the rebuild then the 1031 exchange presents some challenges (I will need to land a property that cash flows or breakeven so that I can get the loan for my rebuild, or banks will count that debt against me).

Some sleep better at night with zero debt, while others love to use leverage and are willing to take on more risk.Community banks right now will go with 80% LTV.

That said, there are some things to consider....The reason the other people on this thread were talking about a lease is because of your debt to income ratio.

@Ben Cochran I hope you have factored STR tax savings into your cashflow and ROI as it can be significant.Leveraging equity to purchase a short-term rental (STR) in Tampa Bay can diversify your portfolio and potentially generate strong cash flow, but it also increases your financial risk.While your properties hold significant equity, adding debt from HELOCs or a DSCR loan could strain your finances if STR performance fluctuates or costs rise.

This new property is pumping out around a 10.5-11% cap currently.My credit score is not great as it sits, hovering around a 650 but slowly increasing as i'm paying off debt.

People responded by explaining that residential mortgage lenders are looking for US-based customers, who have their residence, income and assets in the States.How do they view foreign debt?

It seems to me that there multiple deflationary trends in the world right now but I don’t see a politically acceptable exit of all the accumulated debt in Europe and Portugal without using inflation.