My advice if you could build a small team with payment of 50% or some sort of percentage of your spreads as payment .8 director of your marketing campaigns it will be that employees job to buy things like the Deal Automator that makes marketing easier and more consolidated and less all over the place Carry what did Deal Automator does is take all tools you need as an REI and consolidated into one platform

In my contracts I always ask for more earnest money than I put in myself, that way, it covers some of your carrying costs and due diligence related costs.

And the property manager is the only person with a long-term interest in your property, so their opinion carries a lot of weight!

Aside from the responses above regarding the bank likely requiring the 20% funds to be yours, good luck finding any private lender willing to take a second position note on a 100% LTV for any %, let alone a tiny 3%.Now, banks do, at times, allow seller carried back seconds, but unlikely with no skin in the game from the borrower.

I do carry STR insurance myself that allows arbitrage and it costs several times as much as landlord insurance.

I would probably try to speak with them face-to-face or on the phone and finish the conversation by telling them you will send them a formal letter shortly with the exact date after you talk with your contractor/partner, etc. 

Therefore, I would recommend sticking with a marketing channel that allows you to reach more people and convert more efficiently.I believed that direct mail could be a good marketing channel for rural areas, where people would appreciate a letter approach more, as they are not bombarded with SMS and calls.Feel free to reach out with any questions!

And get a detailed report on their letter-head. 

When I'm preparing these letters/documents, I'm really learning as I go.

I’m in the process of signing an offer letter for a home in the Lake Carolina area of Columbia, SC, listed at $399K.