Good Morning Edward, Have you spoken with any local lenders down here on the Outer Banks?  

.  :-)But if you aren't careful and you are overly leveraged (especially if you are using cash out refi's every couple years to use as the down payment on another property), it is easy to see that net worth destroyed by the sometimes wildly fluctuating local real estate market.  

It is the tenant's responsibility to ensure that the unit is installed, maintained, and operated in accordance with all manufacturer guidelines and local regulations.

@David Yonwook Chung check out some local meet-ups in the OC.OCREIN - Unlock Your Real Estate Success: Stand Up and Connect!

Local banks would be your next bet if you want something competitive but you would run into the same issues with loan value.

In 2022 the rents increased 12.1% year over year which was the 3rd highest in the entire country per https://www.axios.com/local/cleveland/2023/02/14/cleveland-rent-prices.

We are not local so we will be managing this property remotely.

I recently got to know another local flipper and he informed me of a private lender he works with that covers 100% of the acquistion cost and charges 1.5 points and 13.5% (no rehab cost covered).

I would also recommend going to some local RE meetups in your area.

To my surprise, the owner is also a local councilman and recently faced many lawsuit charges.