@Rory Calnan, hope your purchase/investment in Manchester has been productive.

Sadly lenders are in the driver's seat if you only have a week to close.You could also attempt to get an extension to close to find an alternate product. 6% is not crazy, but it does not feel that competitive. 

The standard is that your intent must be to hold those properties for productive use in business, trade, or investment. 

We're passionate about making a better, smarter STR product at Andes, and hope to be the rising tide that lifts all boats in our STR ecosystem, from purchase, to management, to exit.If you are a current or potential short-term rental owner with a story to tell (e.g., great investment, pain point, or wish list), I'd love to hear from you! 

I went and spoke with a sales rep to find the best product for my needs.

According to the US Energy Information Administration, oil production in the US has tripled from 2008 to 2020.

You can use that as a sanity check against any estimates you get on production.

They'll be licensed in Nevada and all they do is that one product.

How do you set up your day to be the most productive?

Based on that you have two completely different approaches, if it is a former it really comes down simply to income you and your partners have and a 25% down payment (assuming you are not going to live there) for a conventional agency loan (FNMA/Freddie) and you will have to put it in your names as no mortgage banker will finance an LLC/LP (there are ways to get around it after you buy it in your name and transfer into an LLC without triggering a due on sale clause but that is a different conversation).If you are talking about a multifamily loan, you can get a down payment for as low as 15% for certain product types (like FHA multifamily) but you would need a loan amount of about $2 million for most lenders.