I am based in Tampa but I cover from Orlando to Spring Hill, and all the way down to Sarasota.

@Sherry PattersonHey Sherry,I am an investor agent based out of San Antonio. 

The variance will be granted based off the site plan submitted at the time and the variance application.

That's why my gut is saying go with the pros to hopefully not let this get any bigger than it already is.I haven't met with the company yet, just spoke with the lady over the phone to set up an appointment who just seemed to be a receptionist. 

If you can manage to get thru to someone by phone to guide you thru, it will go much easier.

Every STR I have purchased has been a home run and this would have only been a base hit, but that is where the market was.  

@Bob Stevensgood points, I was just saying that for this poster - who is based in NY - these properties look 'low priced' because they need big rehabs. 

The number usually varies from 10-20% depending on credit score, property analysis, etc.Some lenders will work with any level of investor experience, credit scores as low as 660 and can close in as little as 10 days (there are loan options for 640-660 credit scores- they require 20% down).Another good thing is interest only and 6-24 month loan terms- you can refinance by selling or refinancing to a long term DSCR rental property loan at any time once you complete the rehab.Once the property is ready you can sell it or if you want to keep the property as a long term investment, you can underwrite the loan based on your income /debt to income (DTI) ratios or you can go the DSCR route where the loan is underwritten based on the actual or market rents from the appraisal.DSCR loans won't use your income to underwrite the loan.DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.Here's a bit more in detail about how rates are calculated for DSCR loans:1.

. - Multiple unrelated fund mangers with deep experience (so one can't get hit by a bus)- Lends at conservative LTVs, stage-gates release of funds based on project milestones.- All loans are in first position, with senior rights.- Lends only to experienced borrowers- Has good liquidity - 1 year lockup or lessThe problem is that no fund meets all of these criteria.

If you want to copy that sort of model, go be someone's assistant for a while, with a base wage that'll keep you from starving.