Jonathan Pflueger I got seller financing 20 years 5% fixed rate 4% down and I collect rents for 6 months before making first payment.

Some lenders are okay with Foreign National STRs but the rates and terms may not be as attractive. 

So far we have dumped 70K not including misc fees like insurance, utilities and other stuff. 

Opt for landlord-specific coverage: Ensure you have a policy specifically designed for landlords, which may offer better rates and coverage tailored to your needs.3.

You really need to have a great property or be able to stand out in some way to be successful with STR at today's prices/rates. 

And also, pricing at 7% with that low of a FICO is highly unlikely, unless I am missing something here@Robin Simon I'm not familiar with the quote but confirming our minimum FICO currently is 640 however if there is a partnership (multiple full joint and several recourse guarantors) we currently take the higher of the two median FICOs if equal ownership % Also - 7.625% is certainly in our ballpark currently - doesn't seem unreasonable with our rates right now! 

What cap rate does one buy at?

He is paying a rate higher than a bank but lower than hard money and he can refinance after his equity has increased. 

AND… you can roll in your broker fee into the loan amount without affecting your rate, and you can get 6% seller concessions.

Rates aren't going back to 3% though.