In addition to the interest of the loan, you'd also be paying this as well. 

At the end of the day; you need more money to do something like this.MAX LTV on new builds is 80% LTC, Meaning if the build is $550,000 and Land is XAdd ($550,000 + x ) * .8 = LOAN AMOUNTYou would need to come in with MINIMUM 20% of the cost in addition to closing costs and reserves, $80,000 is not going to cut it for this project.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

This gave us peace of mind and ensured that any unexpected incidents wouldn't result in major financial setbacks.These two choices have played a crucial role in optimizing our STR strategy, balancing profitability and protection.

Additionally, please share if this was a scam or not.

For a solo team we have a plan for $147/mo that includes onboarding to connect your tools at sign up and anytime throughout your membership at no additional cost, and screen share training with our team.

In addition to reviewing the numbers, take time to tap into your intuition (through meditation or other method) and your gut will help you make the right choice.

In our market it is important to make sure they are a licensed broker, carry adequate GL and worker's comp (and name you as additional insured).  

Additionally, depreciation deductions on the multifamily property could offset a portion of your rental income, further enhancing returns.Key considerations:- Financing the multifamily: Would you go all-cash or use financing?

This can put a significant strain on your finances and cash flowThey also often require a large down payment themselves and may have a strict repayment schedule that can be difficult to meet, especially if there are unforeseen circumstances or delays in renting the property or generating income from itIn addition, relying on this type of loan may expose you to higher financial stress and the possibility of default if you are unable to meet your loan obligationsThe final decision depends on your overall financial situation, risk tolerance, and your ability to manage the associated costs and obligations