Same reason I cannot 1031 a house bought with the intention of flipping.Depends on your goals (you also never mention what the initial price tag of the property is).  

Initial renovationsFurnishing the rentalMonthly utilities, internet, TV, consumables9% lodging tax rateMarketing and bookingLet's say you make $17,000 a month income.

.· Extremely diligent in their initial search for property management companies.

So if your Hard Money Lender (HML) will lend 75% of the ARV, then that means your initial loan is $90,000. 

The assumptions I made are below:Closing costs are calculated to be 7% of final ARV purchase priceRehab costs are $100/sq ft and $75/sq ftLoan interest is the loan + 10% back to the private money investor (assuming I go that route)Total cost is the MPP + Closing Costs + Rehab CostsTotal Profit is ARV – Total CostOwner receives the MPP (what I would have paid for the house) + Closing Costs (I would have had to pay for these anyway, I could sweeten the deal for myself and offer to split them with the current owner) + Half the profitPrivate Money lender receives their initial loan plus 10% interestI receive the split profit – interest on the rehab loanMy goal was to get the owner as close to their $200k wish in order to convince them to do this less than traditional (and maybe not even possible) way.

My initial thoughts are degrees in accounting or business.

Does not matter if its a 15 minute walk with the Dog or Spouse, a hardcore session in the gym, or a nice ride on one of those fancy peletons, get moving in the morning to set the tone for your day! 

I can see through pictures that some parts of the house could use a touch up, paint, new appliances, or tile in the bathroom but I'm having trouble quickly understanding what this number would be and what I should make as an initial offer. 

I was initially wanting to receive a conventional loan and pay a downpayment in cash from savings and buy and hold properties. 

So we've been working on finding the best way to finance the rest of the property for the initial purchase.