Hi Megha,Generally speaking, our capital partners are okay with cabin-style homes in the Smoky Moutain region used as STR/LTRs, but we would need to see the property to get a better idea of whether it is a match for us and our partners. 

With rates expected to be cut next month I would suggest a 3-6month CD to lock in the higher rate as long as you know you don’t need the money early.  

Civil Suit they would need to prove damages I believe.

You very much!

Thank you so much for sharing @Elaine Jackson and for giving us updates!

Either there are cheaper options you can go to or you just need to consider it the cost of doing business and factor it in to your offer price.

I would purchase for $140-150k and would need to borrow total $250k for purchase and renovations.

The LLC is definitely a great tool to have though not entirely needed.

Commercial lenders need seasoned credit history.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).