Loan approval is mostly based on projected rental income, similar to commercial properties.Disadvantages - higher interest rates and can be a riskier investment. 

If you can throw some of the excess income from the high season months at paying down your balances and lowering your credit usage you will very likely raise your credit score.  3) With a higher credit score and lower balance you could probably consolidate the credit card debt into a lower interest personal loan.  4) You need to analyze your listing and your pricing to make sure that you get more off season bookings. 

However, if you lose a tenant, you lose all income. 

This tax provision allows homeowners to rent out their space for up to 14 days per year without reporting the income or paying taxes on it!

Are both taken out of the gross rental income before all of the other operating expenses or after you deduct the operating expenses?

Debt Service Coverage Ratio (DSCR) loans are a type of commercial real estate loan where the lender evaluates the borrower's ability to repay the loan based on the property's income generated.

Rental income and demand are great, and you should be able to find something close to your price range.

I have no income as a student, but have money for a down payment.

You can do a no income no doc DSCR loan 30 year fixed cashout upto 80% .

Hi I'm new to this and looking to start my journey towards financial freedom, I'm looking into purchasing a multi family rental unit to start earning passive income.