We live and work here in the Smoky Mountains Vacation Short-Term-Rental Market, but I would be glad to answer any questions you may have.

Purchase price: $850,000 Cash invested: $140,000 Sale price: $1,476,500 Source: Cold Call, direct to sellerProduct: 12 unit multi familyPurchase: $850k, owner financeLoan 1$250k first position loan (down payment to seller)2 yr balloon, 12% interest onlyLoan 2$600k second position seller finance3yr balloon, 0% interest, 30 yr am, 8 month deferred paymentsThree 4 unit buildings.

What are the best text message marketing apps you recommend?

When the tenants moved out, he discovered they had utterly trashed the place and the cost to bring it back to market standard (and thereby get a more desirable tenant) was beyond him. 

@Tony SpearsYou might want to re-post this and put Columbus GA so people in that market with that keyword can chime in 

There are good sponsors that have a bad deal but what I have seen typically is the sponsor lacks significant experience - they have experience in marketing and raising money - which is not hard when you are promoting 15%-40% returns that clearly were not achievable on a consistent basis. 

Cash buyers, and motivated sellers.

@Stephen FrazierI'm not 100% sure what you're asking, but I would strongly recommend against buying something with 100% financing where part of that financing is a HELOCYou will probably just lose moneyIf the home is owned free and clear, maybe the kids would do seller financing? 

Market is right now at a historic low, so its time to invest. 

German,I can see how it might not make sense but my 18+ years in the Banking business has shown me (3) cycles of this very same market.