I recommend looking into areas near economic bases - close to Nationwide Children’s Hospital, Ohio State Campus, New Albany, etc.

Sometimes we can negotiate based on that and sometimes not.

Every STR I have purchased has been a home run and this would have only been a base hit, but that is where the market was.  

@Bob Stevensgood points, I was just saying that for this poster - who is based in NY - these properties look 'low priced' because they need big rehabs. 

The number usually varies from 10-20% depending on credit score, property analysis, etc.Some lenders will work with any level of investor experience, credit scores as low as 660 and can close in as little as 10 days (there are loan options for 640-660 credit scores- they require 20% down).Another good thing is interest only and 6-24 month loan terms- you can refinance by selling or refinancing to a long term DSCR rental property loan at any time once you complete the rehab.Once the property is ready you can sell it or if you want to keep the property as a long term investment, you can underwrite the loan based on your income /debt to income (DTI) ratios or you can go the DSCR route where the loan is underwritten based on the actual or market rents from the appraisal.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.

. - Multiple unrelated fund mangers with deep experience (so one can't get hit by a bus)- Lends at conservative LTVs, stage-gates release of funds based on project milestones.- All loans are in first position, with senior rights.- Lends only to experienced borrowers- Has good liquidity - 1 year lockup or lessThe problem is that no fund meets all of these criteria.

That's rare.You could probably do a 2nd for the $10,000.Talk to your title company or title attorney and have them draw up the deed of trust and loan terms for the 2nd. 

There are some limits on the amount of depreciation that you can deduct for a short-term rental property based on the number of days that the property is rented out each year.

You can continue deducting mortgage interest and depreciation if the property is owned by an LLC.If the LLC is multi-member, your share will be based on what the LLC agreement says.

You are bidding based on still owing that amount. depending on the state you need to know what is superior and inferior. think about it this way, you are marrying a person with kids from a prior relationship - those kids do not go away, you are taking them as well.2.