DSCR for STRs is commonly mislabeled under the "hard money" umbrella, when it's in fact a 30 yr fixed, fully amortizing loan (same structure as Conventional), with rates similar to conventional. 

DSCR loans won't use your income to underwrite the loan.DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.Here's a bit more in detail about how rates are calculated for DSCR loans:1.

Ensure the property's condition, management history, and financials align with your investment goals.

So, first I would think about what your goals are.

It's becoming more and more common for people to find longer stay options on Airbnb, especially since Airbnb started promoting longer stays last year.

Main goal is minimizing risk with it being our first property but was able to obtain the house for 40+% less than listing price due to our cash offer and able to close ASAP.  

To be direct and get straight to the point, my main goal right now is to find a mentor and get my first deal before August 23rd of this year.

@Francesca Zanzucchi Most of the delay is caused by the banking-controlled ACH system. 48 hours is the common "promised" turn time, but our reality is 3-5 business days.You should look into the 10 day delays, as most payment software is automated.

It sounds like you and your best friend have a solid plan in place and are eager to get started.Regarding your question about structuring your business, you're correct that forming an LLC is a common route for real estate ventures due to liability protection it offers.

Some jurisdictions, like I think Miami, makes the homeowner take an assessment of some sort, but I don't think that's common.