This is why is is extremely important that you use local resources who own STR's in the area or manage them at a bare minimum.

I would outline your scenario to a few local mortgage brokers - with everything you've said this seems like a pretty easy deal. 

We have a Chicago general contracting business, and handling the field operations is a ridiculously heavy lift.As far as finding customers I think you'll have some good success with gorillia marking at some of the local investor meetups. 

I think the borrower is better off trying a local bank or broker in that area.

Hi Mary, I'm a local investor. 

I’ve heard from Forbes that local lenders in Omaha tend ot waive fees if you bundle accounts.By the way, has anyone here used HELOC funds for mid-term rentals?

Getting out to the local meetups, in my opinion, is one of the most important things we all can do as investors. 

Locals know that and you can see that in DOM. 

Ultimately, a “win-win” keeps your tenant profitable while ensuring you’re not underpricing your asset.As for notice periods, definitely check your local regs, from what I’ve heard.

I’m Monica Bynum here a local agent in Memphis, Tn.