I have done it in a STR but as stated above the bathroom situation might hurt you in reviews especially in groups of primarily adults or adults and teenagers.

This is the part that gets pretty tricky for you as an Agent, all transactions that you do should be reviewed and process with your PB/BIC to make sure that you’re staying above the line.

Life happens though and lenders understand that so not every case is a red flag. 

**Not Accepted for Loans**: Lenders typically require a full appraisal, not just a BOV/BPO, when approving commercial mortgages or other loans secured by the property[4].3.

I first went to the wrong lender in the beginning and it caused a lot of stress Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Also should I get prequalified from a few different lenders to see my options?

Lenders also loved them because there was growing cash flow from the rentals to provide more lendability.

Or if you wanted to run a real business, becoming a private lender would clean up, but it's a lot of work. 

If you have the down payment lender will be able to provide construction funds .

Once you know what to look for in terms of an investment in your market then you can start speaking with lenders about using that 20k to determine what you can afford and then move into actually narrowing down properties and making offers!