Keep in mind you can always sell it down the line if you want to.  

Keep it simple. 

One thing I haven't done that I really need to do is put together a business plan, even a rough draft would be good to keep things in perspective and measure progress against.Hope everyone has a wonderful rest of the week!

Even in high traffic cities it can be tricky to keep occupancy over 85%, so you would have to be very competitive with your property to hit the 60% mark in my opinion where seasonality is so strong. 

Third, develop a property management model and plan to keep expenses low and revenue high. 

We now have a Flight Attendant managing the house for us and keeping it clean and organized.

Pricing and rates change constantly so if you are seeking cash out of a rental property you can entertain a second DSCR equity loan up to 70CLTV to keep your first in place or take a look at a full new cash-out option.

Best of luck and keep us posted!

@Vasudev Kirs many newbie investors aren't keeping up on the latest real estate trends.See below graph showing Days On Market (DOM) are up 36% in the last two years!

I'd hope to actually only do a 50% LTV to keep this cashflowing solidly but get my money back out.