That should really be the deciding factor...is it necessary and a large enough project to include the permit process?

Feel free to let me know what you decided to do and how it went. 

I don’t have insurance since my brother decided to not get any.

Let’s break it down with your example and explore the financing options.Max Leverage (Using a Lender for 90% Purchase and 100% Rehab):Purchase Loan: 90% of $80,000 = $72,000Rehab Loan: 100% of $25,000 = $25,000Total Loan Amount: $97,000Your Cash Investment:Down Payment: 10% of $80,000 = $8,000Closing Costs and Fees: Estimate around 3-5% of the purchase price = $2,400 - $4,000Holding Costs: Property taxes, insurance, utilities, and interest during rehab (estimate $1,000 - $3,000)Contingency Fund: 10-15% of rehab costs = $2,500 - $3,750Total Cash Needed: $8,000 (down payment) + $2,400 - $4,000 (closing costs) + $1,000 - $3,000 (holding costs) + $2,500 - $3,750 (contingency) = $13,900 - $18,750Moderate Leverage (Using a Lender for 90% Purchase and 0% Rehab):Purchase Loan: 90% of $80,000 = $72,000Your Cash Investment:Down Payment: 10% of $80,000 = $8,000Rehab Costs: $25,000Closing Costs and Fees: Estimate around 3-5% of the purchase price = $2,400 - $4,000Holding Costs: Property taxes, insurance, utilities, and interest during rehab (estimate $1,000 - $3,000)Contingency Fund: 10-15% of rehab costs = $2,500 - $3,750Higher Equity (Using a Lender for Less than 90% Purchase):If you decide to put more equity into the deal by using less leverage, you will need more cash upfront, but your loan amount and, subsequently, your interest payments will be lower.

Deciding between buying down the rate and saving for a potential refinance can definitely feel overwhelming.

There are good tax benefits, but you should really decide on whether you want to own and operate a business that requires as much upkeep as STR before exploring it further.

We can provide you with two scenarios so you can decide for yourself which would be the best option for you.

Whatever you decide, you're in an awesome spot, and I wish you the best of luck! 

Test the waters with the sponsor for 3-5 years as they hold the properties in the DST, then decide if you want to align with them as a part of your long estate plan.Last (and best) recommendation: Ask your broker what the funds from operations (FFO) ratio is.

We were boing to BRRRR in Ohio but decided to hold off on that as we didn't feel comfortable managing it from this far so held off on it.