@KiKi Wood Is your person for STR set-up in Indianapolis!

My favorite part is having a dedicated contact person that walks you through the entire platform and helps you get set up.

Hello Mike, thank you for the reply, you are the right person to listen to.

He is not in a position to begin lending money for several reasons.I assume the HELOC was made against his personal residence.

NBT Bank had/has a promotional 6.5% commercial rate they were advertising this month. 

Any community bank can give you guidance on expenses.You buy on Proforma, you borrow on actuals. 

I was told that they wanted all the requirements, just like a bank.

I would also look up the statue of limitations for the tenants to come after you.This might be a personal liability insurance question.

The RTP area, comprising cities like Raleigh, Durham, and Cary, is an attractive option for several reasons:Strong job market and population growth, driven by the tech, research, and education sectors, ensuring consistent rental demand.More affordable home prices compared to Charlotte, allowing for better cash flow from rental income.Areas like Cary, Apex, and parts of Raleigh have newer construction townhomes/condos that fit your criteria.Potential for long-term equity growth, as the region is seeing steady appreciation.Some recommended areas to consider near RTP:Cary (especially newer developments like Amberly)ApexNorth RaleighDurham (for slightly lower prices)Charlotte is also a solid option, though it may be more expensive:Strong financial/banking sector driving job and population growth.Higher home prices but potentially higher rents as well.Newer townhome/condo developments in areas like Ballantyne, University City, and South End.Robust long-term equity growth potential, but higher entry costs.

Hi Spencer, from my experience I can tell you that the banks here are not so keen on lending to foreigners who recently relocated to Spain.