Or can you pick up some additional contiguous land for cheap, and put your retention basin on that land?

I have read that acquiring bank loans in some ways actually gets easier as the bank cares about the NOI, CAP rate etc as the basis for the loan and not the individual behind the company seeking the loan. 

I am thinking if we bought it for my mom it would be with the understanding that we wont make anything on it until we resell it in a few years, looking at rent in the area it wouldnt cash flow if we were to rent anything out with the current rates.

Also, remember that interest rates are also negotiable, and the seller gets all the money from the interest. 

The cheap homes look good on paper, but cost a lot more as they often attract less desirable/more problematic tenants.

My cap rates weren't near what was advertised.

(Quoted about 8.5% rate on a DSCR loan, and budgeting 10% of rents for capex, 9% for PM, and 5% each for vacancy and maintenance) After-rehab rents would be about 1350-1500 based on comps.

Rates will be in the 5's right now.

This program is also winning on our weekly interest rate survey at the moment.Here is an example of a loan summary put together for a client last week.

There are markets that are very saturated with STR and with vry bloated prices and high interest rates it could be impossible to turn a profit at all.