It appears that the majority of lenders are now looking to originate pure conforming loans which they know can be sold off.

In my experience, there’s always a story and sometimes the details in the deal are much different than one would imagine.What I see: someone who endured 12 months of anticipation, anger, humility, learning, letdown, stress, joy, and most importantly a mother flipping desire to take control of every facet of every transaction I will partake in in the near future.I’m emotionally exhausted thinking about what transpired over the previous 12 months.

i want to give full disclosure to them.if it matters, here's the deal:small duplex, out of town owner, he owes 20k, they are asking 18k but are willing to accept far less (but the wife isn't supposed to know he said that, lol) it's in his name only anyway.unfortunately, the only recent sales in that neighborhood are <$10k for same sq footage/bed/baths. and i'm sure if i offered them 8k, they'd take it, but that would leave them having to come up with 12k to pay off the loan.i'd be happy to pay 20k over 5-6 years... i mean have tenants pay off the loan in 5-6 years, then free and clear pure cash flow. this would allow owner to get out from under this upside down deal without paying another cent.

Ultimately the STR/LTR decision all depends on if you are purely return-driven and how passive you want to be.

Also, this would be a pure rental not a vacation house for me. 

@Salvatore Lentini My current predicament is purely financial.

I am looking for a pure percent (profit sharing) agreement, but am willing to be flexible on terms.I have worked with one local town supervisor in the county who was super encouraging and helpful as a resource, but at this point I'm looking to widen my search to any location in the Catskills area as long as the property has the utilities and other features I'm looking for.  

Personally I wouldn’t touch less than 20% if looking for a pure investment, but there are other factors that can come into play in which I can see this being a good purchase.

Honestly that's my biggest turn-off for beach condos as pure investments. 

Pure investor, trainer, mentor now...