Keep in mind it’s more than likely most of the competitive banks these days for real estate investing may not be local!  

Hindsight Critique•Continue to build relationships to increase deal flow•Property manager (Mercer Hughes) is critical to completing renovations and quick tenant placement•Continue to build relationships with private lenders and personal investors•Have cash available to make quick competitive offers Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

@Mike Gi be sure to check Airbnb longer stays and Furnished Finder to see what your competition's pricing and decor are like and make your properties pet friendly if you can as this is always a way to out compete the competition.

Hard money was the best option for this property, given the condition and timeline to close.

Hard money was the best option for this property, given the condition and timeline to close.

Personally, if your market tends toward the former condition (better/normal appreciation) I think it's a fairly safe deal looking at the long term, assuming infrastructure around you continues to support the idea of renting it.

If rates come down at all I predict we’ll be back in a strong sellers market (competitive offers, steep appreciation etc) because inventory is still low. 

The fact that you already have multiple units fully rented is a big plus.If I were analyzing this, I’d start by verifying each cottage’s rental history, condition, and potential for adding more units or amenities.

I've often found that the biggest competitive advantage you have when you are getting started is proximity! 

You should be within $50- $100 of market rents for long-term tenants with taking into account the condition of the property.