I can weather anything short of Armeggedon, as I am probably one of the more "conservative" buy & hold guys on here in that I own most of my properties outright.

I guess in short, group funding is great for 70% of us on here, but bad for 90% of the general population.   

But if the property needs $8K in repairs, then using the standard all-cash formula (70% of ARV minus Repairs), it's worth $23.5K at best to an investor.And, yes, a buy-and-hold investor might like the short-term cash flow, but what happens in three years, when the balloon comes due?

In short, this is the exact same process as any other transaction...contract, title, close...some thoughts...Down- 25k is a bit light (even though this is all relative...I personally offer 10% down to open and some folks are fine with that)...I would ask for 20% down to protect the interest of your client...the buyer would get a 75% LTV product from a bank if they were not occupying the property.

I just recently became interested in vacation and short term rentals, but am looking more towards the cabin/mountain properties.

I have found that some local universities offer similar short courses in those fields which I will consider taking.

(loan against my dot/note)$50,000 1st position deed of trust/note (only lien on title)Secured by $450,000+ newly remodeled property with clean titleNo interest rate, past balloon date so can be called due at any time (was placed as interest in home)Property is titled to an LLC so homestead exemption wouldn't apply in event needed to forecloseLooking for a short-term loan using the note and deed of trust as collateral. 

This area has some great opportunities for investment properties, whether you're looking for a buy and hold, flip, or do a short term rental! 

Hi All,I just discovered Bigger Pockets and it was like the AHA!

Do you know if there are specific taxes in place for short term rentals in Providence?