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).

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. 

I hope this helps!

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

BP has various tools to help you analyze your deals (rentals, flips, wholesale, etc). : https://www.biggerpockets.com/investment-calculators7.

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.

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