The thing to know is that there are a lot of seasonal owners so, many properties that look "vacant" are actually held by out of staters from MN WI and IL.

BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.

When doing them, it is best to be in and out as quickly as possible and preferrable during the storm "off-season".

Loving all the threads in the app and learning from seasoned investors!  

The key thing to remember about STR in Cashiers is that our "season" is really only about 12-16 weeks.

I may be wrong but you cannot refi unless the property is seasoned for 12 months when using Fannie, Freddie, Ginnie.

Here is some key information:Property recently hit the market and has 2 cash offers alreadyThe seller provided a pre-inspection report, which I shared with 2 different lenders, both think it may fail conventional financing due to potential structural and electrical issues (realtor thinks it could pass conventional)Seller has 100% equity but is behind on other payments (not sure of the urgency money is needed)This is my first attempt at an “investment” property so I’m new to thisI see 3 optionsMove forward with an offer using conventional loan pre-qualification-Not as attractive of an offer to the seller-Possibility that appraiser calls out structural/electrical issues that need to be fixed before closing, effectively causing financing to fail- Best terms and fewest loan fees for meUse a rehab style loan such as ChoiceRenovation-Even less attractive than a conventional offer to seller, but less risk of failed financing if appraiser calls out issues-Slightly worse fees and interest rates compared to conventional-Lenders tell me possibly up to 60-90 days closing in some cases, with red-tape for contractor requirements and draw schedules (sounds like the most hoops to jump through during rehab)Use a hard money lender-Most attractive loan option I can give to seller so I can compete-Much higher fees and interest rate for me-need to refinance into a conventional at the end of rehab (not familiar with seasoning periods but I think this is a factor as well)Which option would you do?

Hi @Ashley MillerBanner Elk is a great place for STR due to the busy summer season, ski season, and fall leaf color season.

Nov / Dec are the dead season.

Engaging with seasoned investors and participating in discussions will expand your knowledge quickly.