"McAllen was recognized as the third safest city by SmartAssest.com, which analyzed a core set of common safety factors, including the following five metrics: violent crime, property crime, vehicular mortality rate, drug poisoning mortality rate and the percentage of the population engaging in excessive drinking."

Look on Vrbo and Airbnb and see if bigger houses are booked at good rates.

So in my case, we selected June 1st - June 29th, adjusted the minimum stay to 2 nights for that period, and upped the rent for that period to STR rates. 

As for your plan to snag 4 in one year, that just comes down to your finances at that point and the interest rate.

Hey @Kevin Poulin, I pull all the basically similar places on AirBNB and VRBO.Check their nightly rates, occupancy and amenities.

Being quoted $1500 which seems high. 7.45% rate with 1 point charged. 

I assumed that was a financial model projecting cash flows over time given a certain reinvestment rate.

Yes, in my opinion because of the terms and rates of private money it is best used for short term acquisition and rehab.

To address this, we agreed that I would work in the business for six months to verify the financials, which so far align with his POS system.My main issue is that at 23, I don't have strong financials to get a conventional loan at 75% LTV with a ~7% rate, and the seller's lack of financials complicates bank approval.

Pro-rated first month's rent would be due at move in.