I found a house that I think has potential - AirDNA is estimating 62K/year at 63% occupancy and $273 a night; however, I spoke with a Vacasa rep who thought those numbers were a little high.

The first people that lose their money in a downturn are those that are lending at insanely high LTVs without adequate underwriting experience including determining if the borrower's qualifications based on credit/character, capacity, and collateral.  

There are some "lenders" out there who "do" incredibly high leverage or 100% financing, but be wary of these as they often try to renegotiate terms before closing/run out of capital/go bankrupt.

I've you've already used $315k, you have $451,550 left.https://www.veteransunited.com/education/tools/va-loan-limit...Even though $515k>$451k, You CAN still use your VA loan on this duplex (and I highly recommend it).

If you want to get an idea of all that is happening in our market I would highly recommend subscribing to the Triangle Business Journal. 

I have over two years of 1099s, a very high credit score, and enough capital to put down a 20% down payment on properties around $250k-$300k.

Can you define what High IRR means to you?

Currently under contract for a large off-market residential property.Quick details: 4,200+ sqft 12bed / 5bath (2 kitchens) (No a flood zone)(Light - Medium rehab / rent-by-the-room play)My partner has been a PM in this community for 20+ years and is highly confident in this deal (as am I).The current issue is, we aren't confident the property can close with a bank due to a few seller complications.( ^Very long story, but if you want to hear it I will tell you haha)We're looking to over-raise about $335k ($255k purchase and $80k for the rehab).But we (and our contractors) know the rehab portion will come in a bit lower.Can anyone point me in the right direction?

I'm not sure if I am going to start local (since the market is so high here) or if I am going to go OOS.

@Tal SimpsonMe too but they can’t help with syndications which I do a lot of, and price is crazy high!