I went so far as to discuss options with different providers in the NYC area.

As for the electric heating bill baseboard electric is expensive and I know RI energy jacked their rates so you can't be much different.

Just my thoughts, asking outsiders from all different markets with different experiences wont give you the exact answer you’re looking for. 

There is a story circulating about a group of criminals stealing in NY then going to different states (including FL) to spend the $ they're stealing up here. 

Very interested to hear others in different vacation rental markets. 

Mike, each lender has their different overlays, but if you’re looking to get a hard money and or Bridge loan to begin the BRRRR  strategy, here’s a list of the most common documents lenders may ask for:- experience / track record- personal financial statement- scope of work / budget- LLC entity docs- maybe bank statements (lender dependent)everyone is different and each loan is a snowflake.

That will lead to what you need to buy it for since every market is different pricing for repairs always change. 

I would consult with your own CPA - different people have different needs. 

This will also help you use a little creative imagination to realize your goals in a different way. 

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 = 1.23DSCR lenders generally let you vest either individually or as an LLC.