I bought this property with a private interest free loan from a friend. the person i bought it from need cash fast so i offered them a low cash offer and they accepted.I had enough money saved up to rehab the house with my savings.

I have experience in the flip, rental, space and can help with the loan, and the real estate broker piece.

For active investments I advocate considering how you can diversify WITHOUT ceding your competitive advantage nor the superior profitability of the niche your in.As an example my business is running an investment fund and syndication high interest commercial mortgage loans secured by income producing real estate. 

And addressing my item #1 comment, almost always, when a "distressed" homeowner is approached, they initially are grateful to have the loan brought current, but before long they forget the circumstances they were in and you become the bad guy that stole their house.

Here’s what made a difference for us:🔹 Mortgage Relief – Many lenders offer disaster relief options like payment pauses or loan modifications.

I use a loan servicer who processes the borrowers payment and then sends to me.

I plan to offer owner financing to others that can't get a loan.

While you work on that, you could also explore creative financing options like DSCR loans or partnerships to fast-track your first STR.

Quote from @Jaycee Greene: Assuming you pay asking price, I'd estimate the down payment for something like that using a hard money loan (HML) would be around 40% of the purchase price and your monthly payment would be $2,600 with an interest rate in the low 7% range (probably need a 700+ credit score to get that).

If you have a loan, you may wish to look into due-on-transfer clauses.