I have called a few places and the cost is about 8K from start to finish.

You seem like a great candidate for a DSCR Loan - and you have great timing as rates have finally started to really come down to make cash-out refinances viable again!

Honestly I would choose a mortgage broker and let me explain you why.When you go to a bank or credit union the loan offer works for that institution and will offer you the rate they company offer, instead if you work with mortgage broker we have the ability to shop with over 100 and more institutions and shop for the best rates available, fast closing and customizable solutions, text me so i can give you my rates base on your credit score.

to get to the point, i would find an area likely to experience more demand and ensure the financials work out for both MTR & LTR's. i would ideally start out with a fourplex and depending how that goes, possibly scale from there. i do believe that it is more traditional to syndicate on larger properties so i am wondering if you know if it is possible to syndicate, starting off, for one fourplex or even one MTR condo. my gut feeling is to start with one beach-front condo in florida that requires $37,250 down . a new construction fourplex, however, i could finance with a USDA loan myself and not have to consider investors so that may make things easier, possibly.no airbnb's. maybe VRBO. two week minimum stay. only in areas very likely to have housing demand due to new factories being built.i own/run an STR right now and it is going well with only the occasional hiccup.

I am reposting something I sent to the general starting-out community because it is specifically about STR.

Does anyone have recommendations for ADU design and construction companies in San Diego county?

First, you are paying interest on the existing mortgage, then you will cash out the equity and start paying interest on that money.

There's only one exception to that last point and that's CDMX, which has started implementing regulations because foreign investors renting short-term have pushed rents too high for the local population, which has turned against those investors.

I would start attending meetups and going to events to get an idea of how others have started.Strategies are plenty.

Feel free to reach out if you have any other questions, want to discuss, or would like to get your financing started!