There are several good markets in Michigan for this.Also recommend using a property manager to keep your investment as passive as possible and for compliance purposes with Fair Housing Law and local regulations.To Your Success!

.: Can anyone share lenders that are offering this loan in Michigan. 

Side Question: why not considering looking into Detroit Michigan instead? 

Try the University of Michigan Credit Union.

We are currently investing in Memphis, TN and Detroit, MI and have had great success.

@Chris Kittle just set up a Michigan LLC and have great insurance!

@Michelle Dong for S8 info, go to Michigan's MSHDA website and that of the Detroit Housing Commission.

Originally posted by @Dennis M.:I

Hi Jon from Boyertown, PA-You and your fiancé are interested in buying your first short-term rental and wonder profitable areas to purchase with a budget up to $500,000.I would look at places along the west coast of Michigan, Grand Rapids, Kalamazoo, and near Ann Arbor, MI.It is important to understand the local STR regulations in each community and partner with a property management company that can help your navigate that and manage it well for an excellent guest experience.Don't forget to look into bonus depreciation and doing a cost segregation study to increase the tax benefits of ownership and if you "materially participate" in the management of the property per IRS guidelines it can offset active W-2 income which most real estate cannot.To Your Success!

I also have a similar vision for Lake Michigan View Condo!