Maybe he can purchase equity too instead of just issuing the loan, or both.

Seeing as he is getting a construction management minor, he is very aware of code issues as well as costs.

They can check on the property between every guest as needed or respond when there are immediate issues. 

The Florida Department of Business and Professional Regulation's Vacation Rental and Timeshare Project Licensing division issues licenses.

How do I find an insurer that will issue a policy for a rental?

Another issue is that the property ARV is 85k, and with most DSCR lenders minimum loan amounts being 75k, the rental won't qualify since the loan amount I'm seeking is around 60-65k at 75% LTV.

From my experience, people are blinded by the extra 50-100-200 dollars of extra cashflow a month and often don't realize that if you have a good tenant that pays regularly without causing issues, it would sometimes take another 3-5 years of a new tenant at the new rate to make up for the vacancy time of the turnover.

So, what we do to get around the seasoning issue is give a bridge loan up to 75% or 80% with the cash out.

But, its still a foreclosure --- all those issues still apply.Good luck.

New investors often feel attached or emotional in their decision when deciding on a property.