Let me show the numbers; please let me know if it makes sense:Property Original Value $10,000,000.00 Initial Finance $7,500,000.00 Investors Money (Downpayment) $2,500,000.00 Ipotetical foced Appretiation New Value $12,500,000.00 New Downpayment/Equity $3,125,000.00 Refinance Principal $9,375,000.00 Cash Out from Original Investment back to investors $1,875,000.00 There are some MF investors that hold the property with no plans to sell and keep doing refinancing, and this seems to be the model applied by Ken McElroy.

Another important consideration is whether you plan to manage the rental yourself or hire a property manager to handle tenant issues and maintenance.I recommend starting by answering these questions.

Do you plan on rehabbing it?

We would encourage them to share the good, bad, and ugly so you can gauge whether we are a good fit for your investment needs.While it's true that many of our clients haven't directly come from this platform, I'm excited to be part of the BiggerPockets community now as well.

Lesson learned on going into business without exit plans, I guess...For reasons out of scope here, I just filed my 2021 taxes and the IRS hit me with a $30k capital gains bill (not including interest or penalties).

To find the plan that best suits your financial condition and investing goals, investigate both private money and house flipping choices.

We planned on using this as a STR and were expecting 50% occupancy.  

At this time ive been just looking for a rental property that fits the numbers. 

In my experience, short term rental managers charge the most, followed by room by room, followed by longer term management.There may be an opportunity for you to do this yourself if you plan to continue living in the home.

Did you tell the owners that you plan to not occupy the place?