Thanks, I would work with an accountant that offers this to clients of theirs.

There are many Business Loan Applications, which are virtually identical and carefully worded, that you can find online.Hopefully, your lawyer includes a Certificate of Non-Owner Occupancy in your loan package, and language to that effect is liberally mentioned in your note and mortgage/deed of trust.Consider obtaining a script offered now by some lending attorneys that you can use to interview your borrower about their intent during a recorded Zoom call.

There is a program offered by HUD called "Good Neighbor Next Door".

They seem to offer DSCR loans even with a 30 year fixed, no ARM, at 6.49%.

After an intro call and vision board, intro to strategic lending partner, four physical tours, two offers on two properties (with the second accepted below asking price) a quick inspection with (minor inspection issues resolved by seller), appraisal waiver and below market rate lock..

That's a rough area Tim......You're going to be dealing with an uphill battle getting quality folks to take on a property like that one.

A cap rate that high sounds good, but is often considered a beige flag. 

Some U.S. banks may be reluctant to offer mortgages to non-residents, so you might need to look into Canadian banks with U.S. branches or specialized lenders who cater to foreign investors.Legal Structure: Setting up the right legal structure (like an LLC or a corporation) is crucial for liability protection and tax purposes.

When prices are high, more people are forced to rent, which results in increased demand and rising rents.Inventory has been frustratingly low and is not getting betterSales inventory plummeted at the beginning of the year and has remained below one month in Q2. 6 months is considered a balanced buyer/seller market.

The purpose for setting it up as a STR was simply to help defray the cost of owning and maintaining the property, but again we feel that the time we put into it is taking away from our quality of life with our family/kids.We're looking for advice on what to do with the property.