I just mentioned 3% because I cannot even find anything that produces that. 

Not to mention, they probably won't want to admit it if a building they manage is in really bad condition.If you're serious about buying you should first talk to fellow investors and define your buy box.

Hi @Josh Buchanan,Management software companies all offer similar features that you mentioned already. 

Some local lenders familiar with Gainesville’s market (from what I’ve read in Bloomberg) like SunState Federal Credit Union and Ameris Bank have been mentioned favorably latley and might be a bit more flexible if they understand the repositioning story behind your property.

Since the LTV on the hard money loan is high , I would personally purchase it using a bank statement loan at 85% LTV (15 percent down) and, as you mentioned, just use your cash for the rehab.

They allow you to include up to 6 months of rent payments in the loan if you are unable to occupy the premises during the renovation.Just to be complete, it's also worth mentioning that both the VA and USDA have renovation loans.

It's worth mentioning I also require tenants to have their own renters insurance policy with at least 100k minimum liability.

Funny you should mention that.

This was a learning experience that will fuel many success to come.On the podcast you mentioned you were going to take a few months off.

I know you mentioned doing STR, but then you need to spend another $10k+ to get it furnished.