I believe one way to help combat that is buying a newer home or even new construction (which most are offering great incentives right now).

I previously worked with a contractor to help with permits and drainage since there’s a possible wetland issue, but unfortunately things fell through between us and I didn’t make progress. 

Happy to help you set a plan, but everyone else is right that $600k is out of your budget currently.Whatever you end up doing, I would recommend looking into conventional financing though.

Hi Nancy, I handle the northern part of the Jersey shore and may be able to help you with STR properties.Have you looked at any towns in Monmouth or Ocean county yet? 

But if you need more cash in hand now and can handle the higher fees and reduced cash flow, option 1 could make sense.As for shopping around, it might be worth getting a few more quotes, especially if you think you can find something that combines the best of both worlds—a decent LTV and lower fees.Hope this helps!

Hope this helps.

Thank you for your help. 

That said, I'll share a few pieces of information that I think will be helpful. 

Feel free to reach out if it might be helpful to learn more about those.

Also keep in mind that if you are looking to BRRRR these properties that there should be a decent amount of need for rents in the areas you're working.I do offer BRRRR loans for the rehab and refi's as well so if you did want to see examples of what pricing and required liquidity may look like at different exp levels I'd be happy to help however I can.