Thank you so much for that tip, that was super helpful as a solid piece of Info rather than my own personal assumption.

My goal was to BRRRR multifamily properties in San Antonio, TX as the rents are generally rock solid there and the purchase prices are relatively low.

That said, long-term rents remain solid across the state due to restrictive rural/agricultural zoning, a substantial lack of new housing supply, and the added cost of transporting building materials 2,500 miles from the mainland.Only other thing I will say is that if your plan is to do long-term rentals, expect a lot of tenant churn.

The market here is solid and investors are flocking in from NYC.

While I don't have a ton of money to invest, I'm sure lenders would be willing to finance projects if a solid tenant is committed to a site (signed lease, strong DSCR, the RE would obviously be collateral, etc.).  

Looks like a solid first deal!

Hey @Daniel Brantley, like @Charles Carillo said, vacancy length really differs depending on many factors, so there's not one solid answer to that.

Tom S. has a solid point.

It sounds like it is a pretty solid option to use for funding a real estate purchase/rehab and I think that is the route I am going to take. 

@Brandon Ribeiro sounds like a solid structure for both parties.