Otherwise, I recommend option two, using a personal loan.

With countless loan options, complex terms, and strict lending criteria, it’s easy to feel overwhelmed.

Your best and most efficient option would be a DSCR cashout refinance, more than likely.

I’ll also connect with locals through BiggerPockets or Facebook groups for first-hand insights.If visiting isn’t an option, lean on a reliable local team (agents, property managers) to help vet the area.

You don't have to spend a fortune and buy a house directly on the beach to do well, but your starting price point for a viable option in this market is around $350-$450k for a solid 2-3 bedroom oceanfront condo or around $500k for a 3-4 bedroom house within walking distance of the beach. 

The condo will limit the rental options to age restrictions. 

Your mentor’s advice about starting with a rental property is solid, and a duplex could be a great option for house hacking.

Another option would be to sell, reinvest into a house hack and use the excess on a deal.

This will either eliminate or open different options for you.3.

My client had some things come up that prevented her from executing, but these were some of the options I had put together for her, a regional bank, a regional CU, and a national bank.Reminder that NOI sizes CRE debt, and that's often what determines the down payment requirement, not anything to do with the client or particular lender, just the property itself.