If you're a long term buy and hold investor, the opportunity here can be awesome as you can likely get into this transaction for far less down and/or for a lower monthly payment than a traditional lender would allow for.

I would imagine that it's hard to entice private lenders without offering a really high interest rate given what people can get as much as 4-6% in some CDs these days where not long ago it as more like 1%. 

Hello,We are first-time buyers looking into STR investment in Long Island.

Can they prove how long it takes to rent a vacant property?

I personally utilize Buildium to run my long term/mid term rental properties and it allows us to conduct tenant screening, applications, tenant payments, and maintenance requests all through the portal. 

I went to there home in NYC last year in June.

For example, we have been looking closely to the Beverly/Burlington NJ area, but we are definitely not constrained by location as long as we are within ~1hr from Staten Island. 

Also helpful to know your short term 1-5 year goals and your long term 5+ year goals as that will make a difference.

Let's make a lasting impact.

@Cody MunozIf you invest for the long term it is really inconsequential unless you are over leveraged.