I like that ARM option the best. 4) Chase - no comment other than unless you are an extremely high networth individual I would go with someone else. 

The difference is the lender is not a bank, but an individual or abother companyThe purchasing process should be 100% the same for you as a buyer as it would purchasing any other property with the exception that you would want to get an appraisal (where as typically the bank would).

We learned early on that:-3 of the 6 buildings are in a flood zone-the current owner has a loan, this lender doesn't require flood insurance-1 building took on a little water at one point during the 12 years the seller has owned the complex. 

I'm not sure how you can compete against that and make some serious money, unless you own an expensive villa by the ocean but I'd love to learn if your friends have a recipe.To be clear, I never suggested that you can't make money with a short-term rental in Punta Cana.

Biggest thing I learned from my first house hack was to not be afraid of repairs.

Call us if you want to learn more!

Sit down with them, express your interest, and ask how you could partner together to learn the ropes and dip your toes in the water.

2 observations after reading this thread:1- lack of transparency on individual sponsors is a major issue.

While you are here and learn about the market perhaps buy a rental that you could analyze as an investment. 

Right now, I'm in the "knowledge gathering phase" and actively putting what I learn into action.I have a fantastic team of investors, a legit buyers list, and resources for finding deals.