Additionally, lenders may require a release price (a specific amount to pay down the loan) for each property sold, which can complicate the strategy.It’s worth discussing these details with a trusted lender or mortgage broker to ensure the plan aligns with the loan’s terms.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

If you can qualify for an FHA mortgage that amount can be as little as 3.5% of the loan value.  

If you have high W2 income, the amount your STR makes (or loses) will be peanuts compared to the tax savings.

In other words, not resold to the government so the bank had more flexibility on the condition.I look at the original commitment letter and it states "xxx amount will be advanced at closing for the purchase of an investment property, and the remaining balance of the loan to be placed into an escrow account to be disbursed as improvements are made".No points, and only one closing, so I don't have to deal with a short term HML that I have to refinance in under a year.Hope that helps!

Depending on the amount owed I might pay it off after I’m under contract to do a property inspection and ask for the money back at closing.

I'd estimate that there are less than 1,000 legitimate, or "professional" wholesalers, in the United States of America, as defined by individuals who make $100K flipping contracts, and collecting assignment fees, in any form, and who have made that amount of income more than 3 years in a row.

Cut out expensive stuff you do not need but just want.Try to get that monthly amount needed to survive to a nominal amount.3.

I'm sure how far Lake Monroe if from the University but I would also look into the amount of STRs in that as well.  

An other advantage of paying with credit card may be that you will not have to send the provider a 1098 tax form (only an issue if the total yearly amount is over $800).